Wabtec Completes $1.78 Billion Acquisition of Evident’s Inspection Technologies Division

PITTSBURGH, July 1, 2025 – Wabtec Corporation (NYSE: WAB) announced today the successful completion of its acquisition of the Inspection Technologies division from Evident, previously part of Olympus Corporation's Scientific Solutions Division. This strategic move, valued at approximately $1.78 billion, is set to bolster Wabtec’s Digital Intelligence business and enhance its capabilities in non-destructive testing and inspection solutions crucial for mission-critical assets.

The acquisition aligns with Wabtec's long-term vision to lead the industry in innovation and further positions the company for accelerated and profitable growth. Rafael Santana, President and CEO of Wabtec, stated, "Today, we are a stronger company with the addition of Inspection Technologies. This acquisition not only enhances our existing portfolio but also broadens our reach into high-growth, high-margin markets."

Evident’s Inspection Technologies division specializes in non-destructive testing, remote visual inspection, and analytical instruments. Its integration into Wabtec's operations is expected to enhance productivity, reliability, and safety for customers across various sectors, including rail, mining, and industrial applications. This complements Wabtec's existing product offerings and expands its market opportunities significantly.

"The product portfolio of Inspection Technologies strongly complements our existing digital technologies and adds advanced automated inspection capabilities in a space where data acquisition, analytics, and automation are critical," said Nalin Jain, President of Wabtec’s Digital Intelligence Group. The acquisition is projected to double Wabtec's total addressable market (TAM) from approximately $8 billion to $16 billion, positioning the company to meet the growing demand for advanced diagnostic technologies.

The transaction was financed through a combination of cash reserves and newly issued debt instruments, with an estimated multiple of 12.0x projected 2025 EBITDA after accounting for transaction costs and anticipated synergies. Analysts anticipate that this acquisition will provide immediate shareholder value, projecting a high single-digit revenue growth outlook and accretive returns over time. Moreover, the acquisition is expected to positively impact Wabtec's Adjusted EPS in the second half of 2025.

Wabtec, with a history of 155 years in the rail industry, aims to revolutionize transportation solutions while achieving a sustainable rail system globally. The company’s strategic initiatives include accelerating innovation, expanding its recurring revenue base, and improving operational efficiencies.

In conclusion, the acquisition of Evident's Inspection Technologies division marks a significant step for Wabtec as it seeks to enhance its technological capabilities and market presence. As industries increasingly demand integrated solutions for asset inspection and maintenance, Wabtec is well-positioned to lead in providing state-of-the-art technologies that ensure safety and efficiency across various sectors.

For further information on Wabtec Corporation and its initiatives, please visit [Wabtec’s website](http://www.wabteccorp.com).