BERWYN, Pa., Feb. 7, 2017 /PRNewswire/ -- AMETEK, Inc.
(NYSE: AME) today announced that it has completed the acquisition
of Rauland-Borg Corporation, a leading global provider of mission
critical communication solutions for hospitals, healthcare systems
and educational facilities.
Rauland-Borg was acquired for $340
million, plus a potential contingent payment of $30 million tied to the achievement of certain
milestones. The company has annual revenues of approximately
$160 million.
"Rauland-Borg is an outstanding company and we are excited about
the acquisition. It is a recognized leader in healthcare and
education communication solutions with premier product and brand
name recognition," comments David A.
Zapico, AMETEK Chief Executive Officer.
"Rauland provides AMETEK with an attractive new growth segment
within the medical technology market. In addition to their
strong growth opportunities in its core markets, we see incremental
growth opportunities through acquisitions and international
expansion," adds Mr. Zapico.
Rauland-Borg was privately held with an 88-year history.
It is headquartered and has manufacturing operations in Mount
Prospect, IL. It joins AMETEK as part of its Electronic
Instruments Group (EIG) -- a leader in advanced analytical,
monitoring, testing, calibrating and display instruments with
annual sales of $2.4
billion.
Corporate Profile
AMETEK is a leading global
manufacturer of electronic instruments and electro-mechanical
devices with annual sales of approximately $4.0 billion. AMETEK's Corporate
Growth Plan is based on Four Key Strategies: Operational
Excellence, Strategic Acquisitions, Global & Market Expansion
and New Products. 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 Index.
Forward-looking Information
Statements in this news
release relating to future events, such as AMETEK's expected
business and financial performance are "forward-looking
statements." Forward-looking statements are subject to
various factors and uncertainties that may cause actual results to
differ significantly from expectations. These factors and
uncertainties include AMETEK's ability to consummate and
successfully integrate future acquisitions; risks associated with
international sales and operations; AMETEK's ability to
successfully develop new products, open new facilities or transfer
product lines; the price and availability of raw materials;
compliance with government regulations, including environmental
regulations; changes in the competitive environment or the effects
of competition in our markets; the ability to maintain adequate
liquidity and financing sources; and general economic conditions
affecting the industries we serve. A detailed discussion of
these and other factors that may affect our future results is
contained in AMETEK's filings with the U.S. Securities and Exchange
Commission, including its most recent reports on Form 10-K, 10-Q
and 8-K. AMETEK disclaims any intention or obligation to
update or revise any forward-looking statements.
Contact: Kevin Coleman +1
610-889-5247
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/ametek-acquires-rauland-borg-corporation-300403278.html
SOURCE AMETEK, Inc.