Evident's $1.78 Billion Deal with Wabtec
Deal News | Jan 14, 2025 | Ropes & Gray
Evident's Inspection Technologies division, primarily involved in nondestructive testing and remote visual inspection, has been acquired by Wabtec Corporation for $1.78 billion. This strategic transaction, managed by the law firm Ropes & Gray, aligns with Wabtec's expansion goals, particularly in sectors critical for maintenance, manufacturing, and environmental protection. Evident, majority-owned by Bain Capital, is based near Boston and delivers solutions for inspecting high-stakes infrastructure. Ropes & Gray deployed a diverse team of partners specializing in private equity, tax, real estate, and more, underscoring the complexity and breadth of the deal.
Sectors
- Nondestructive Testing
- Manufacturing & Maintenance
- Private Equity
- Corporate Law
Geography
- United States – Evident is headquartered near Boston, Massachusetts, and Wabtec Corporation is conducting this acquisition, indicating significant activity in the U.S. market.
- Japan – Evident’s majority owner, Bain Capital, is known for its presence in Japan, reflecting cross-national investment and operations.
Industry
- Nondestructive Testing – The article is primarily about Evident's Inspection Technologies division that specializes in nondestructive testing solutions.
- Manufacturing & Maintenance – Evident provides inspection solutions crucial for maintenance and manufacturing applications.
- Private Equity – Bain Capital, a private equity firm, is the majority owner of Evident, highlighting the private equity industry’s involvement.
- Corporate Law – Ropes & Gray, a law firm, played a significant role in facilitating the transaction, bringing in legal expertise across several fields.
Financials
- 1.78 billion USD – The transaction value for the acquisition of Evident's Inspection Technologies division by Wabtec Corporation.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Evident | Target Company | Company | Evident's Inspection Technologies division is being acquired by Wabtec Corporation. |
| Wabtec Corporation | Bidding Company | Company | Acquiring Evident's Inspection Technologies division for $1.78 billion. |
| Ropes & Gray | Legal Advisor | Company | Acted as the legal advisor for Evident in the transaction. |
| Bain Capital | Majority Owner | Company | Majority owner of Evident, involved in the transaction through its portfolio management. |