mynth
← DATABASE
01/2025100%

Evident Inspection Technologies acquired by Wabtec

UNITED STATES Industrial Equipment / Special Machinery / Instrumentation & Measurement EV $1–10bn

Context

Wabtec Corporation has completed the acquisition of Evident's Inspection Technologies division, one of its largest acquisitions to date, as part of its strategic plan to bolster its capabilities in inspection technologies, data analytics, and predictive maintenance. The company highlights that this transaction will significantly expand its portfolio of digital solutions for the rail, mining, and industrial sectors. Evident's Inspection Technologies will complement Wabtec's existing capabilities in sensors, data analysis, automation, and artificial intelligence, enabling the development of advanced monitoring and predictive maintenance solutions for critical assets. The acquisition also doubles the addressable market size of Wabtec's Digital Intelligence business, increasing it from approximately $8 billion to $16 billion, while enhancing its exposure to high-growth, high-margin industrial markets. This move aligns with the company's long-term strategy to accelerate innovation, improve the safety and reliability of infrastructure, and drive high-value, recurring revenue streams.

Evident Inspection Technologies, which reported an EBITDA margin of 25.9% in 2024, is valued in this transaction at an EV/EBITDA multiple of 15.9x, representing a premium to the average observed in the Industry & Manufacturing sector (11.3x in 2025).

-> Deep-dive in Industry & Manufacturing market trends

Target

Headquartered near Boston in the United States, Evident Inspection Technologies is a global provider of inspection and testing solutions for critical infrastructure and equipment. Building on the legacy of Olympus' Scientific Solutions business, the company leverages over 50 years of expertise in non-destructive testing (NDT) technologies, remote visual inspection, and analytical instrumentation. Evident Inspection Technologies develops a broad range of equipment that enables the evaluation of the condition, integrity, and performance of industrial assets without causing damage. Its portfolio includes ultrasonic testing systems, eddy current solutions, industrial radiography equipment, video scopes and borescopes for inspection, as well as material analysis instruments. These technologies are utilized across various industries, such as aerospace, energy, transportation, industrial manufacturing, oil and gas, mining, and public infrastructure.

Ent. Value

FREE VIEW

$1.8bn

Equity Value

[members only]

Multiples

FREE VIEW

EV / Revenue

4.1x

FREE VIEW

EV / EBITDA

15.9x

EV / EBIT

[members only]

Historical Financials (USD)

FREE VIEW
Year
Rev
EBITDA
EBIT
2024
433m
112m
[members only]
2023
$250–500M
$100–200M
[members only]

Other operations with Wabtec

Other operations with Wabtec
DateAcquirerTargetCountrySector
12/2025WABTECFRAUSCHERAUSTRIASensors & Optics

Similar deals in Industrial Equipment

Similar deals in Industrial Equipment
DateAcquirerTargetCountrySector
03/2025PIOVANGROUPBHTITALYFood & Beverage Lines
03/2025ALFA LAVALFIVES ENERGY CRYOGENICSFRANCEProcess Engineering & Production Lines
12/2024IK PARTNERSDRIESCHERGERMANYElectrical Equipment
12/2024JBT MARELMARELICELANDFood & Beverage Lines
11/2024CRANE COMPANYTECHNIFAB PRODUCTSUNITED STATESValves, Pumps & Taps
10/2024SENSECABIRALUNITED KINGDOMInstrumentation & Measurement
10/2024FLOWSERVEMOGAS INDUSTRIESUNITED STATESValves, Pumps & Taps
10/2024ARKEA CAPITALSEGEPOFRANCEComponents
09/2024GRACOCOROBITALYSpecial Machinery
09/2024IDEX CORPORATIONMOTT CORPORATIONUNITED STATESComponents

REFERENCES

Valuation range: EV $1–10bn

Revenue range: $250–500M

EBITDA range: $100–200M

EV/Revenue range: 2x - 6x

EV/EBITDA range: 15x - 25x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Evident Inspection Technologies by Wabtec are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Acquirer: wabtec

FAQ

What transaction does this page cover?

This page covers Wabtec’s acquisition of 100% of Evident Inspection Technologies, an American company specialised in Special Machinery, in 2025.

How was the acquisition of Evident Inspection Technologies by Wabtec valued, and what multiples were paid?

The transaction valued Evident Inspection Technologies at an enterprise value of $1.8bn, implying an EV/EBITDA multiple of 15.9x and an EV/revenue multiple of 4.1x.

What were Evident Inspection Technologies’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Evident Inspection Technologies reported annual revenue of $433m and EBITDA of $112m (FY 2024).

How does the valuation of Evident Inspection Technologies compare to benchmarks in the Industry & Manufacturing sector?

At 15.9x EBITDA, the acquisition of Evident Inspection Technologies was priced at a premium compared to the prevailing benchmark for the Industry & Manufacturing industry in 2025, which stood at 11.3x. The transaction’s EV/EBITDA multiple of 15.9x was above the 11.3x median recorded in mynth’s US Industry & Manufacturing transaction sample for 2025. The descriptive comparison is based on 15 transactions with available EV/EBITDA multiples from differences in size, growth, profitability that may affect comparability.

What sources support the information on this transaction?

The details of this transaction are sourced directly from the official corporate announcement published on the parties’ institutional website, ensuring primary-source verification of the closing and perimeter.

What is mynth?

mynth is the first free M&A database dedicated to Small & Mid-Cap transactions. We centralize Enterprise Values, revenue multiples, EBITDA multiples and transaction financials that are typically locked behind five-figure subscriptions on platforms like Capital IQ or Mergermarket. On mynth, searching and browsing deals is completely free. Our mission is simple: make professional-grade valuation intelligence accessible to every M&A advisor, independent consultant, Private Equity professional and student, without the burden of expensive annual licenses.