Core Insights - Wabtec Corporation has completed the acquisition of Evident's Inspection Technologies division for $1.78 billion, enhancing its Digital Intelligence business and expanding its market reach [1][10]. Financial Details - The acquisition was financed through cash on hand, newly issued term notes, term loans, and short-term borrowing [2]. - The purchase price represents an estimated multiple of 12.0x projected 2025 EBITDA, adjusted for transaction costs, anticipated tax benefits, and projected cost synergies of $25 million [3]. Strategic Impact - The acquisition is expected to generate immediate shareholder value with a high single-digit revenue growth outlook and accretive adjusted earnings before interest and taxes margins [5]. - Wabtec's total addressable market is expected to double from nearly $8 billion to $16 billion, significantly enhancing growth opportunities [6]. Operational Enhancements - The deal strengthens Wabtec's product portfolio by integrating advanced automated inspection capabilities, enhancing predictive maintenance capabilities through advanced analytics, sensors, and AI technology [7]. - The acquisition aligns with Wabtec's long-term vision to lead in innovation within the rail, mining, and industrial sectors [4]. Market Performance - Wabtec currently holds a Zacks Rank 2 (Buy) and has seen its shares gain 10.4% year-to-date, outperforming the Zacks Transportation - Equipment and Leasing industry and the S&P 500 [8].