BERWYN, Pa., Feb. 1, 2018 /PRNewswire/ -- AMETEK, Inc.
(NYSE: AME) today announced that it has completed two acquisitions;
FMH Aerospace, a leading provider of complex, highly-engineered
solutions for the aerospace, defense and space industries and
Arizona Instrument, a provider of differentiated, high-precision
moisture and gas measurement instruments. Combined, approximately
$273 million was deployed on these
acquisitions.
"We are very excited with the acquisitions of FMH Aerospace and
Arizona Instrument as both companies offer differentiated products
serving attractive markets," comments David
A. Zapico, AMETEK Chairman and Chief Executive Officer. "We
are pleased with our recent acquisition efforts and continue to
manage our strong deal pipeline."
FMH Aerospace
FMH Aerospace is a leading provider of
complex, highly-engineered solutions for the aerospace, defense and
space industries. FMH products are used to facilitate the transfer
of fluids and gases at extreme temperatures and pressures with
highly demanding, mission-critical applications.
"FMH is a high-quality acquisition for our Thermal Management
Systems businesses with excellent positions across a number of
attractive aerospace and defense platforms," notes Mr. Zapico. "Its
proprietary products and solutions further broaden our
differentiated product offering serving these markets."
FMH Aerospace, with annual sales of approximately $50 million, was acquired for $235 million. Headquartered in Irvine, CA, it joins AMETEK as part of its
Electromechanical Group, a differentiated supplier of automation
and precision motion control solutions, electrical interconnects,
specialty metals, thermal management systems and specialty
motors.
Arizona Instrument
Arizona Instrument is a provider of
differentiated, high-precision moisture and gas measurement
instruments for use in high-value applications.
"Arizona Instrument is an exciting addition to AMETEK's growing
presence in the food, pharmaceutical and environmental markets and
nicely complements our Brookfield Engineering business," comments
Mr. Zapico. "Its differentiated products are supporting customers'
increasingly complex production processes and more stringent
environmental and safety standards."
Arizona Instrument, with annual sales of roughly $15 million, was acquired for approximately
$38 million. Headquartered in
Chandler, AZ, it joins AMETEK as
part of its Electronic Instruments Group, a leader in the design
and manufacture of advanced instruments for the aerospace, power,
process and industrial markets.
Corporate Profile
AMETEK is a leading global
manufacturer of electronic instruments and electromechanical
devices with annualized sales of more than $4.5 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.
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.