Esco Technologies has announced its intention to acquire Megger Group from TBG in a deal valued at $2.35 billion, combining cash and stock components.

Megger Group provides testing, monitoring, and data solutions primarily serving utilities and infrastructure companies. The acquisition will integrate Megger into Esco's Utility Solution Group segment, according to company statements.

The transaction represents a significant expansion for Esco Technologies in the utility solutions market. Megger's specialized testing and monitoring capabilities align with Esco's existing portfolio of services for utility and infrastructure sectors.

Financial terms include both cash payments and stock transfers, though specific details of the payment structure were not disclosed. The deal remains subject to standard regulatory approvals and closing conditions.

The acquisition is expected to strengthen Esco's position in providing comprehensive solutions to utility companies and infrastructure operators globally. Both companies have established customer bases in the utility sector, potentially creating synergies in service delivery and market reach.