Wabtec Expands Market Reach with $1.78 Billion Acquisition of Evident’s Inspection Technologies

Wabtec, a leading U.S.-based rail manufacturer, has announced a $1.78 billion deal to acquire Evident’s Inspection Technologies division. This strategic move is expected to double Wabtec’s total addressable market from $8 billion to $16 billion, marking a major milestone in the company’s growth trajectory.

Rafael Santana, Wabtec’s President and CEO, emphasized that this acquisition aligns with the company’s strategy to innovate scalable technologies, expand its installed base, and increase high-margin recurring revenues.

Headquartered near Boston, the Inspection Technologies division is projected to generate approximately $433 million in revenue for 2024. With a global presence, the division operates through a geographically distributed sales force and maintains four engineering and production facilities in North America and Japan. It employs over 1,300 professionals worldwide. Wabtec believes that integrating Inspection Technologies will significantly enhance its digital intelligence capabilities, particularly in automated inspection technologies, data acquisition, and analytics.

Nalin Jain, President of Wabtec’s Digital Intelligence Group, highlighted that this acquisition will not only strengthen Wabtec’s offerings in the rail, mining, and industrial sectors but also open doors to new high-growth, high-margin markets. The deal, subject to regulatory approvals and customary closing conditions, is expected to be finalized in the first half of 2025.

This acquisition follows Wabtec’s $69 million purchase of Bloom Engineering, an industrial heating solutions provider, in December 2024, further solidifying its position in the industrial sector.