ESCO to Acquire Megger for $2.35B

ESCO Technologies acquires Megger Group, a industrial services other business in Missouri, for $2.35 billion. Megger Group provides testing, monitoring, and data analytics solutions for electric power assets, serving utilities and critical infrastructure across industrial, transportation, data center, and renewable end markets. ESCO Technologies acquisitions expand the Utility Solution Group with differentiated software and analytics, strengthening global presence through UK, Europe, North America, and Asia hubs. The platform acquisition is structured as a public company acquisition with $0.9 billion cash and ESCO equity valued at about $1.4 billion, funded by existing cash and incremental debt with committed financing. The deal is valued at roughly 14x projected 2026 EBITDA including synergies, with lock-up provisions and board nomination rights for one seat upon closing.