Scottish engineering firm the Weir Group has closed a $1.285bn acquisition of Esco, a US-based provider of ground engaging tools (GET) for surface mining and infrastructure.

The acquisition agreement was signed in April this year in an effort to create a mining services provider with mission-critical solutions from extraction to concentration.

The deal is expected to complement Weir’s growing comminution projects, while also allowing the company to strengthen its crusher portfolio.

“Esco brings a strong global leadership position and adds another premium brand to our portfolio of market-leading products and services.”

Weir, which makes pumps, wellheads and valves, will have access to Esco’s portfolio of ten manufacturing facilities and six foundries, as well as 22 service and supply centres in 19 countries.

Esco will operate as a new division of the Weir Group and will be led by Jon Owens, who previously worked as Esco’s president and chief operating officer.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Weir Group CEO Jon Stanton said: “Esco brings a strong global leadership position and adds another premium brand to our portfolio of market-leading products and services.

“Esco’s premier position in surface mining complements our established leadership in materials processing, meaning together the group has a unique range of mission-critical solutions from extraction to concentration, built on proprietary technology, superior wear life and supported by an unrivalled service network.”

The total consideration for the transaction included 59% in cash and the remaining 41% in new Weir shares to Esco shareholders.

Established in 1871, Weir operates in mining and upstream oil and gas markets with facilities in more than 70 countries.

At the time of signing the deal in April, the company also unveiled its plans to divest its Flow Control business and focus on Minerals and Oil & Gas.