RALEIGH, N.C., Jan 7, 2020 /PRNewswire/ -- Kymera
International, a leading specialty materials company, today
announced that it has entered into a definitive agreement with
AMETEK, Inc. (NYSE: AME) under which it will acquire AMETEK's
Reading Alloys business, a leading provider of highly engineered
materials for mission critical applications in the aerospace,
defense, medical and industrial markets.
Founded in 1953, Reading Alloys designs, develops and produces
master alloys, thermal barrier coatings and titanium powders. The
business is a preferred supplier for producers of high quality
titanium and super alloy mill products that are used in aerospace
and aircraft applications.
"Reading Alloys is an outstanding company with highly skilled
people and an excellent product and end-market portfolio that we
believe fits in perfectly with our existing business," said
Barton White, CEO of Kymera
International. "For Kymera, we believe this is a
transformative acquisition that will give our combined company
strong technical and commercial resources to help fuel our growth
in the aerospace, defense, medical and industrial markets."
Kymera has been owned by affiliates of Palladium Equity
Partners, LLC (collectively, "Palladium"), a middle market private
equity firm with approximately $3
billion in assets under management, since 2018.
"The acquisition of Reading Alloys, Kymera's second to date, is
right on strategy as the Kymera management team continues to build
the company into a leading specialty materials producer," said
Adam Shebitz, a Managing Director of
Palladium. "Kymera represents another great example of Palladium's
value creation framework, which pulls on both organic and
M&A-driven levers. We are excited about this opportunity to
enhance the Kymera platform with Reading's value-added products,
growing end-markets and its talented employees."
The transaction, the terms of which were not disclosed, is
expected to close in the first quarter of 2020. It is subject to
customary closing conditions including applicable regulatory
approvals.
About Palladium Equity Partners, LLC
Palladium is a middle market private equity firm with
approximately $3 billion of assets
under management. The firm seeks to acquire and grow companies in
partnership with founders and experienced management teams by
providing capital, strategic guidance and operational oversight.
Since its founding in 1997, Palladium has invested approximately
$2 billion of capital in 33 platform
investments and more than 135 add-on acquisitions. The firm focuses
primarily on buyout equity investments in the range of $50 million to $150
million. The principals of the firm have significant
experience in consumer, services, industrials, and healthcare
businesses, with a special focus on companies they believe will
benefit from the growth in the U.S. Hispanic population.
Palladium is based in New York
City. For more information, visit
www.palladiumequity.com.
About Kymera International
Kymera International can trace its roots back to the 1800's and
today is a market leading specialty materials company focused on
non-ferrous powders, granules, and pastes including aluminum,
copper, tin and their alloys. The Company sells its technically
developed products into a wide variety of end markets, including
aerospace, additive manufacturing, chemical, specialty auto and
numerous industrial applications. Kymera International has
manufacturing facilities in the U.S., Australia, Europe, and Asia.
About AMETEK
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.
Media contact for Kymera International and Palladium Equity
Partners, LLC:
Todd Fogarty
Kekst CNC
todd.fogarty@kekstcnc.com
212-521-4854
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SOURCE Kymera International; Palladium Equity Partners, LLC