ESCO Technologies completes $2.3 billion acquisition of Megger Group
On October 1, 2026, ESCO Technologies completed its purchase of all shares of Megger Group Limited from TBG AG for about $2.3 billion, paid in $922 million cash and 5.10 million shares of common stock. The company funded the cash portion and refinancing with about $1.0 billion borrowed under a new credit agreement, which replaced its existing credit agreement. Shareholders face higher debt and dilution from the new shares, and the seller gains a board seat right while it holds at least 50% of the consideration shares.
Key points
- Purchase price of about $2.3 billion: $922 million in cash and 5.10 million shares of common stock, subject to a cash post-closing adjustment for net debt and working capital
- New $1.5 billion credit facilities (revolver, Term Loan A and Term Loan B, $500 million each) became effective on the closing date, with about $1.0 billion borrowed
- Existing credit agreement, scheduled to mature August 30, 2028, was terminated on the closing date
- Board increased from eight to nine members; Jeremy P. Abson elected as a director effective October 1, 2026
The filing
Written by AI on Nov 8, 2026, 12:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 02, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.