BERWYN, Pa., Sept. 4, 2019 /PRNewswire/ -- AMETEK, Inc.
(NYSE: AME) today announced that it has acquired Pacific Design
Technologies, Inc. (PDT), a leading provider of advanced,
mission-critical thermal management solutions.
PDT designs and manufactures a complete range of
custom-engineered, liquid cooling systems and components used in a
broad set of current and next-generation commercial aerospace,
defense and space platforms. PDT was privately held and is headquartered in Goleta, California. The company has annual
sales of approximately $40 million
and was acquired for approximately $125
million.
"PDT is an excellent acquisition for AMETEK as it enhances our
position in the attractive aerospace and defense sectors," comments
David A. Zapico, AMETEK Chairman and
Chief Executive Officer. "The company's innovative technology and
differentiated solutions nicely complement our already deep
expertise in thermal management systems."
PDT joins AMETEK as part of its
Electromechanical Group (EMG) – a differentiated supplier of
thermal management systems, and automation and engineered
solutions.
Corporate Profile
AMETEK is a leading global
manufacturer of electronic instruments and electromechanical
devices with annual sales of approximately $5.0 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.