EVIDENT INSPECTION TECHNOLOGIES acquired by WABTEC
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 currently observed in the Industry & Manufacturing sector (11.6x).
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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 VIEW1780M USD
Equity Value
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Multiples
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EV / Revenue
4.1x
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EV / EBITDA
15.9x
EV / EBIT
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Historical Financials (USD)
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REFERENCES
Valuation range: EV 1b - 4b USD
Revenue range: 250M - 500M USD
EBITDA range: 100M - 200M USD
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Press release: view release
Acquirer: wabtec