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About Pti Technologies Inc.

ESCO Technologies is a diversified manufacturer that addresses several markets. The company's meter-reading technology and video surveillance systems are used to monitor industrial applications. The company's filters are used in industrial applications, fuel systems, medical applications, and appliances. Test products include electromagnetic compatibility equipment such as antennas, probes, turntables, and calibration equipment as well as radio-frequency shielding products. ESCO's customers are in the commercial and military aerospace, space, healthcare, wireless, consumer electronics, electric utility, and renewable energy industries  Subsidiaries include PTI, Doble, VACCO, and ETS-Lindgren. About 70% of sales are to customers in the US.

Financial Performance

ESCO's sales velocity picked up in 2017 and 2018, fueled by acquisitions. Net income followed suit, especially in 2018.

In 2018 (ended September), sales rose about 12% to about $772 million, up about $86 million from 2017. All segments posted higher sales led by a 30% increase in USG on the strength of the NRG, Morgan Schaffer, and Vanguard Instruments acquisitions. Filtration accounted for more than 35% of revenue, followed by USG, about 35%, Test, about 25%, and Technical Packaging, about 10%.

ESCO's profit jumped to $92 million in 2018 from about $54 million in 2017 on higher sales and a tax benefit.

The company's coffers held $30.5 million in cash in 2018 compared to $40.5 million in 2017. Operations generated $93 million in 2018, while investing and financing activities used $41.6 and $66.4, respectively.


ESCO in 2018 moved to run more efficiently and improve its cost competitiveness, shutting down or consolidating some facilities and reducing headcount in the USG segment, sharing production lines in Oxnard, California between the VACCO and PTI businesses, and moving aircraft parts to the PTI segment. In Europe, the company shrank its footprint in 2019, closing its headquarters in the UK and relocating manufacturing activities to two plants, one in the UK and the other in Poland.

In the US, ESCO sold its Doble facility in Watertown, New York, and moved it to Marlborough, Massachusetts. The company pocketed money from the sale and intends to improve employee recruiting and retention because of lower costs in Massachusetts while providing a more accessible place for customers to visit.

To further reduce costs and focus on its core businesses, in late 2019 ESCO said it would sell its Technical Packaging business unit - thermoformed plastic packaging for medical device, healthcare, and consumer products - to Sonoco Products Company for about $187 million.

ESCO also invests in automation, another efficiency move, and in research and development to create new products. The company spends about $13 million a year on R&D.

While emphasizing organic growth, ESCO remains on the lookout for acquisitions. In 2019, it bought Global Composite Solutions, a supplier of materials for US Navy submarines. The Global Composite brought a number of multi-year contracts to supply stealth components on the growing fleet of US submarines. It was made part of ESCO's Filtration segment.

ESCO makes significant sales to the US government and its prime contractors that account for up to 20% of revenue a year. A shift or reduction in defense spending could affect the company's revenue.


Mergers and Acquisitions

ESCO, through its subsidiary NRG systems, acquired a portfolio of advanced Lidar technology developed by Pentalum in 2018. 


Pti Technologies Inc.

501 Del Norte Blvd
Oxnard, CA 93030-7983
Phone: 1 (805) 604-3700

Firm Stats

Employer Type: Privately Owned
Sr. Vice President: Beth Kozlowski
Vp Sales And Marketing: Jim Martin
Chief Engineer: Bijan Mouhebaty
Employees (This Location): 212
Employees (All Locations): 220

Major Office Locations

Oxnard, CA