05:55 PM EDT, 04/15/2026 (MT Newswires) -- ESCO Technologies ( ESE ) said Wednesday it has entered an agreement to acquire Megger Group from TBG in a cash and equity deal worth around $2.35 billion.

Following the completion of the transaction, TBG will have nomination rights for one seat on ESCO's ( ESE ) board.

UK-based Megger manufactures electronic test equipment and will become part of ESCO's ( ESE ) Utility Solution Group segment.

ESCO ( ESE ), which is set to release Q2 results on May 7, expects to report Q2 adjusted EPS of $1.91 and revenue of $309 million.

Three analysts polled by FactSet expect $1.77 and $307.7 million, respectively.

Shares of ESCO ( ESE ) fell around 2.5% in recent after-hours trading.