May 25, 2021 | Deals

GCA Altium advises Altanova on their sale to ESCO Technologies

GCA Altium acted as exclusive financial advisor to the shareholders of I.S.A. Altanova Group S.r.l., including PE firm ITAGO Partners and the Group’s founder, on the sale of Altanova to ESCO Technologies Inc. (NYSE: ESE).

Altanova is a well-established, leading supplier in the field of advanced condition assessment technologies, centred around partial discharge (PD) measurement and analysis, as well as test instruments for electrical apparatus. They offer a wide range of diagnostic products, monitoring systems, and services for electrical assets related to power generation, transmission and distribution networks, renewable energy and storage, and process industries, worldwide. Headquartered in Taino, Italy, Altanova provides products and services in more than 100 countries and has a strong market share in Europe and Asia.

ESCO, headquartered in St. Louis, USA, manufactures highly engineered filtration and fluid control products for the aviation, navy, space and process markets worldwide, as well as composite-based products and solutions for navy, defence and industrial customers. They are the industry leader in RF shielding and EMC test products, providing diagnostic instruments and software and services for the benefit of industrial power users, as well as electric utility and renewable energy industries.

ESCO has entered into an agreement to acquire Altanova, and the acquisition creates a significant international platform for ESCO’s Utility Solutions Group (USG), filling important product gaps and geographies currently not served by USG’s existing products and solutions. This acquisition also positions ESCO to capture additional growth on a global scale, as power infrastructure around the world continues to be developed and upgraded.

Domenico Tonussi, Founding Partner at ITAGO Partners, commented: “ITAGO and Altanova’s management did an outstanding job growing the business organically and by acquisition over the last four years. It was a true pleasure to work with GCA Altium. Their senior dedication, global buyer network and smart process strategies resulted in a very competitive process, leading to the selection of a key partner for Altanova’s future development and a superior outcome for their shareholders.”

Carlo Dawan, Managing Director at GCA Altium, added: “It has been an absolute pleasure to work with Altanova’s shareholders and its genuinely best-in-class management team – we wish Altanova and ESCO well for the future.”

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