BERWYN, Pa., Nov. 27, 2018 /PRNewswire/ -- AMETEK, Inc.
(NYSE: AME) today announced that it has completed the acquisition
of Spectro Scientific, a leading provider of machine condition
monitoring solutions for critical assets in high-value industrial
applications. Spectro provides both lab-based and onsite
instrumentation, consumables and cloud-based software analytics to
help customers determine and monitor the condition of fluids in
mission-critical equipment.
"Spectro is an excellent acquisition for AMETEK. Their
differentiated solutions serve an increasing need for predictive
maintenance in a broad and growing set of end markets, including
military and defense, process, power generation and
transportation," comments David A.
Zapico, AMETEK Chairman and Chief Executive Officer.
"Spectro's solutions nicely complement our strategy to integrate
instrumentation data with cloud-based software and analytics."
Spectro has annual sales of approximately $50 million and was acquired for approximately
$190 million. Spectro was a privately
held company and is headquartered in Chelmsford, Massachusetts. It joins AMETEK as
part of its Electronic Instruments Group (EIG) - a leader in
advanced analytical, monitoring, testing, calibrating and display
instruments with annualized sales of $3.0
billion.
Corporate Profile
AMETEK is a leading global manufacturer of electronic
instruments and electromechanical devices with annualized sales of
approximately $4.8 billion. AMETEK's
growth model 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.