BERWYN, Pa., March 29,
2021 /PRNewswire/ -- AMETEK, Inc. (NYSE: AME) today
announced that it has completed three acquisitions – Magnetrol
International, Crank Software and EGS Automation (EGS).
Approximately $270 million was
deployed on these acquisitions which have combined annual sales of
approximately $120 million.
"We are pleased to welcome the Magnetrol, Crank Software and EGS
teams to AMETEK," commented David A. Zapico, AMETEK Chairman
and Chief Executive Officer. "Each of these businesses provide
AMETEK with unique capabilities which strategically expand our
presence in attractive growth areas. We continue to strengthen our
portfolio through the acquisition of market-leading businesses with
innovative, advanced technology solutions. We are pleased with this
recent acquisition activity and continue to manage an active deal
pipeline with exciting opportunities for growth."
Magnetrol and Crank Software join AMETEK as part of its
Electronic Instruments Group (EIG) – a leader in advanced
analytical, monitoring, testing, calibrating and display
instruments. EGS Automation joins AMETEK's Electromechanical Group
(EMG) – a differentiated supplier of thermal management systems,
and automation and engineered solutions.
Magnetrol
Headquartered in Aurora, Illinois, Magnetrol is a leading
provider of level and flow control solutions for challenging
process applications across a diverse set of end markets including
medical, pharmaceutical, oil and gas, food and beverage, and
general industrial. Magnetrol's portfolio of mission-critical
products are designed to optimize processes, maximize yields, and
ensure safety.
"Magnetrol is an excellent acquisition for AMETEK and nicely
complements our Sensors, Test and Calibration (STC) business,"
added Mr. Zapico. "Combined, Magnetrol and STC become an industry
leading, differentiated sensor platform with a broad range of level
and flow measurement solutions."
Crank Software
Headquartered in Ottawa, Canada, Crank Software is a
leading provider of embedded graphical user interface (GUI)
software and services. Storyboard – the company's flagship
offering – is a premier, innovative solution that enables the
design and development of customized user experiences in a wide
range of embedded products. Crank Software also offers a unique and
customizable set of professional services that takes customers from
concept to completion in their GUI design and development
cycle.
"Crank Software is an exciting acquisition for AMETEK and an
excellent addition to our growing portfolio of software solutions,"
continued Mr. Zapico. "Their award-winning Storyboard platform and
service capabilities are positioned well to capitalize on the
accelerating demand for smart, digitally enabled devices across a
variety of end markets."
EGS Automation
Headquartered in Donaueschingen,
Germany, EGS is an automation
solutions provider that designs and manufactures highly engineered,
customized robotic solutions used in critical applications for the
medical, food and beverage, and general industrial markets.
"EGS nicely complements our AMETEK Dunkermotoren business with
highly customizable engineering design and automation
capabilities," commented Mr. Zapico. "The combination of EGS and
Dunkermotoren provides a broader suite of automation solutions and
expands our presence in this attractive market."
Corporate Profile
AMETEK is a leading global
manufacturer of electronic instruments and electromechanical
devices with annual sales in 2020 of more than $4.5 billion. The AMETEK Growth Model integrates
the Four Growth Strategies - Operational Excellence, New Product
Development, Global and Market Expansion, and Strategic
Acquisitions - with a disciplined focus on cash generation and
capital deployment. AMETEK's objective is double-digit percentage
growth in earnings per share over the business cycle and a superior
return on total capital. The common stock of AMETEK is a component
of the S&P 500.
Contact:
AMETEK, Inc.
Kevin Coleman
Vice President, Investor Relations
1100 Cassatt Road
Berwyn, Pennsylvania 19312
kevin.coleman@ametek.com
Phone: 610.889.5247
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SOURCE AMETEK, Inc.