Weir’s acquisition of Esco now final

The Weir Group completed its acquisition of Esco Corp., a provider of ground-engaging tools for surface mining and infrastructure markets.

The deal was completed for $1.285 billion and it follows regulatory clearance for the transaction, which was announced in April 2018.

“We are delighted to formally welcome Esco to Weir,” says Jon Stanton, Weir Group’s chief executive. “It is a great brand that is respected throughout the world for its quality, performance and reliability. Esco’s strength in extraction complements our leadership in the mill circuit, meaning that together we will have a comprehensive offering for mining companies around the world.”

Jon Owens, current Esco president and COO, will continue to lead the business as it becomes a division of the Weir Group. He will also join Weir’s Group executive committee.

“As part of Weir we can create something that is genuinely unique that will help more customers improve their productivity and safety,” Owens says. “No other mining equipment provider will be able to offer customers market-leading solutions from extraction to concentration supported by a service center network that covers every major mining region in the world.”

Esco was founded in Portland, Oregon, in 1913 and currently employs about 2,600 people. The company has operations in 19 countries.