BERWYN, Pa., Feb. 5, 2020 /PRNewswire/ -- AMETEK, Inc.
(NYSE: AME) today announced that it has acquired IntelliPower, a
leading provider of high-reliability, ruggedized uninterruptable
power systems serving a wide range of defense and industrial
applications.
IntelliPower designs and manufactures a broad portfolio of
ruggedized solutions including uninterruptable power systems,
external battery packs, power distribution units and power
conditioners. These products protect mission-critical applications
by utilizing high-efficiency, power-switching technology which can
be remotely monitored and managed.
"IntelliPower is an excellent acquisition for AMETEK and is a
highly complementary fit with our Power Systems and Instruments
Division," comments David A. Zapico,
AMETEK Chairman and Chief Executive Officer. "IntelliPower is a
market leader in ruggedized uninterruptable power solutions and
broadens our technological capabilities in this attractive market
segment."
IntelliPower is headquartered in Orange, California. The company has annual
sales of approximately $40 million
and was acquired for approximately $115
million. IntelliPower joins AMETEK as part of its Electronic
Instruments Group (EIG) - a leader in advanced analytical,
monitoring, testing, calibrating and display instrumentation.
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.