ESCO Technologies (ESCO) has announced the acquisition of Altanova Group, a European supplier of advanced technologies for electrical equipment condition testing and monitoring.

I.S.A Altanova Group S.R.L. (Altanova) is an established supplier in the field of advanced condition assessment technologies centered around partial discharge (PD) measurement and analysis, as well as test instruments for electrical apparatus.

Headquartered in Taino, Italy, Altanova provides products and services in more than 100 countries, and its strong market share in Europe and Asia creates a significant international platform for ESCO’s Utility Solutions Group (USG) and fills important product gaps and geographies currently not served by USG’s existing products and solutions, ESCO said in a press release.

This acquisition positions ESCO to capture additional growth on a global scale as power infrastructure around the world continues to be developed and upgraded.

Altanova, which will become part of the USG operating segment, had 2020 calendar year sales of approximately $30 million with operating margins slightly above the USG segment in total.

The transaction is subject to Italian regulatory approval and is expected to close in the next 45 days.

Source: ESCO Technologies