Doble, (www.doble.com) headquartered in Watertown, Massachusetts, is the worldwide leader in providing high-end, diagnostic test solutions for the electric utility industry. Doble provides comprehensive engineering consulting services, which it typically delivers using information gathered through its branded diagnostic testing instruments for power delivery apparatus. The combination of this proprietary instrumentation, a “Knowledge Reservoir” of over 25 million apparatus test results, along with consulting services for analyzing and interpreting test data enables Doble to assist power system operators with their mission-critical decisions.
Founded in 1920, Doble pioneered the design and manufacture of the standard high voltage insulation diagnostic test. Today, the Company’s wide-ranging products and services are recognized worldwide as the electric utility industry’s “gold standard.”
ESCO, (www.escotechnologies.com) headquartered in St. Louis, Missouri, is a proven supplier of special purpose communications systems for electric, gas and water utilities, including hardware and software to support advanced metering applications.
Doble Engineering Company (“Doble”) announced that it has been acquired by ESCO Technologies Inc. (NYSE: ESE, “ESCO”) for cash consideration of approximately $319 million. This transaction is the successful culmination of an initiative led by The Bigelow Company LLC on behalf of Doble to proactively seek out the “Best New Majority Shareholder” for the Company, and in so doing, provide a liquidity event for the current Shareholders and their beneficiaries.
“The value of the installed electrical delivery system globally is enormous, and requires ongoing and expanding maintenance programs. Utilities and other power delivery companies face a host of near-term challenges including system expansion requirements, aging infrastructures, and a heightened focus on return on assets. Being a part of ESCO will allow us to further leverage our domestic market leadership position into rapid international sales growth, thereby considerably strengthening our global leadership.” Robert Smith, President and CEO Doble
“The success of this strategic combination is a fitting tribute to Frank Doble’s impressive legacy and also everyone else at Doble who has contributed to serving the electric utility industry as its “honest broker of specialized know-how” for almost ninety years.” David C. Linton, Managing Director Bigelow