Westland Technologies, Inc. (“Westland”), a portfolio company of Mangrove Equity Partners, has been acquired by ESCO Technologies, Inc. Located in Modesto, California, Westland is the market leader in the design, development and manufacture of elastomeric-based signature reduction solutions that enhance U.S. Naval maritime platform survivability.
Westland provides sole-source mission critical technology used on a majority of the U.S. Naval fleet worldwide, including submarines (Virginia Class, Ohio Class and Los Angeles Class), surface ships (cruisers and destroyers), and aircraft carriers. Westland’s products include highly-engineered, complex tiles and other shock and vibration dampening systems that reduce passive acoustic signatures and/or modify signal (radar, infrared, acoustical and sonar) emission and reflection to reduce or obscure a vessel’s signature. Westland’s products are sold throughout all stages of a vessel’s life cycle including new build, retrofit and MRO, providing a diverse, predictable and consistent revenue stream by capturing cradle-to-grave exposure on most of the U.S. Navy’s maritime platforms. Westland will become part of ESCO’s Filtration & Fluid Flow operating segment. Westland has annualized sales of approximately $25 million.
Vic Richey, Chairman and CEO of ESCO Technologies, commented, “Expanding our participation in the growing submarine and surface ship market provides an exciting growth opportunity within our Filtration segment. Westland’s unique technologies offer a significant opportunity to expand into a broader platform of new product development areas related to our existing customer base. I’m excited to welcome the outstanding and dedicated employees of Westland to our ESCO team.”
Terms of the transaction were not disclosed. Philpott Ball & Werner, LLC served as exclusive investment banking adviser to Westland and Mangrove Equity Partners. For more information about this transaction, please contact Luke Korta at email@example.com or Nick Berry at firstname.lastname@example.org.