BCLP advises ESCO on transformative $2.35B acquisition of Megger Group

International law firm BCLP is advising ESCO Technologies Inc. on its proposed acquisition of Megger Group Limited, a global provider of testing, monitoring and analytics for electric power infrastructure, among other businesses, for approximately $2.35 billion. The transaction represents a significant step in ESCO’s growth strategy, expanding its Utility Solutions Group and strengthening its global capabilities.

ESCO Technologies is a global provider of highly engineered products and solutions serving diverse end-markets. It manufactures filtration and fluid control products, advanced composites, as well as signature and power management solutions for aviation, Navy and industrial customers. ESCO is an industry leader in designing and manufacturing RF test and measurement products and systems; and provides diagnostic instruments, software and services to industrial power users and the electric utility and renewable energy industries. The company is headquartered in St. Louis, Missouri, and operates offices and manufacturing facilities around the world.

Under the proposed deal, ESCO has agreed to buy Megger Group Limited following the signing of an agreement on April 15. The transaction is expected to close once required approvals are received. The purchase price totals about $2.35 billion, made up of $922 million in cash and 5.1 million shares of ESCO stock, with final amounts adjusted after closing.

BCLP is advising ESCO on both the acquisition and the financing.

Headquartered in Dover, England, Megger operates across 41 jurisdictions, with significant operations in Germany, the United States, the United Kingdom, Sweden, India and Israel. Megger is a global provider of testing, monitoring and data-driven solutions for utilities and critical electric infrastructure, including industrial, transportation, data center and renewable end markets.

You can read more in ESCO’s press release.

The BCLP deal team was led by Fred Bartelsmeyer (US M&A and Corporate Finance) and Andrew Hart (UK M&A and Corporate Finance), assisted by Chidima Atueyi (UK M&A and Corporate Finance). Securities and corporate governance aspects of the transaction were led by Rob Endicott, assisted by Brian Feezel.