ESCO Technologies Inc. (NYSE:ESE) entered into an agreement to acquire I.S.A Altanova Group S.R.L. from Itago SGR S.p.A, Founder Gino Amadi, and others on May 20, 2021. Under the transaction, Altanova will become part of ESCO's Utility Solutions Group operating segment. I.S.A Altanova had sales of approximately $30 million in the calendar year 2020.

Gino Amadi, Founder and a shareholder of Altanova, currently serves as Chief Executive Officer of Altanova and has agreed to remain with Altanova subsequent to closing. The employees of Altanova will also be joining ESCO as part of the transaction. The transaction is subject to Italian regulatory approval and is expected to close within the next 45 days.

Carlo Dawan of GCA Altium acted as financial advisor to the shareholders of I.S.A. Altanova Group S.r.l., including Itago and Gino Amadi. Bryan Cave Leighton Paisner LLP acted as legal advisor to ESCO Technologies Inc. in the transaction.