-- Navitar Expands AMETEK's High End Precision
Optics Capabilities --
-- RTDS Technologies Broadens AMETEK's Power
Test and Measurement Capabilities --
BERWYN,
Pa., Nov. 1, 2022 /PRNewswire/ -- AMETEK, Inc.
(NYSE: AME) today announced that it has completed two acquisitions
– Navitar, Inc. and RTDS Technologies Inc. Combined, AMETEK
deployed approximately $430 million
on these acquisitions and acquired approximately $100 million in annual sales.
"We are excited to welcome the Navitar and RTDS teams to
AMETEK," commented David A. Zapico, AMETEK Chairman and Chief
Executive Officer. "These businesses nicely complement our existing
capabilities and strategically expand our presence in highly
attractive secular growth areas. AMETEK continues to strengthen our
portfolio through the acquisition of market-leading businesses with
innovative, advanced technology solutions."
Both companies join AMETEK as part of its Electronic Instruments
Group (EIG) - a leader in advanced analytical, monitoring, testing,
calibrating and display instrumentation.
Navitar
Headquartered in Rochester, New
York, Navitar is a leading provider of advanced optical
components and solutions for high precision applications across a
diverse set of end markets.
Navitar is a market leader in the design, development and
manufacturing of customized, fully integrated optical imaging
systems, cameras, components and software. The Company's
technically advanced, innovative optical solutions serve critical
applications in high-growth end markets including medical and life
sciences, machine vision and robotics, and industrial
automation.
"Navitar's market leading optical components and solutions
nicely complement our existing optics portfolio while also
providing the ability to leverage our respective sales channels to
accelerate growth and market access," added Mr. Zapico.
"Additionally, Navitar is well positioned to benefit from the
growth in demand for precision optical solutions across an
expanding number of applications."
RTDS Technologies
Headquartered in Winnipeg,
Canada, RTDS is a leading provider of real-time power
simulation systems used by utilities, and research and educational
institutions in the development and testing of the electric power
grid and renewable energy applications.
RTDS's solutions help prototype, verify, and test the
performance of the power grid, power instruments, and networks in a
closed loop system to help accelerate product development cycles
and decrease testing costs.
"RTDS is an outstanding acquisition and excellent strategic fit
with our existing Power Instruments businesses' differentiated
testing and simulation capabilities," continued Mr. Zapico. "Their
real-time simulation solutions play a key role in the modernization
of the electric grid and in supporting renewable energy
development, distributed power generation and energy storage."
Corporate Profile
AMETEK is a leading global manufacturer of electronic
instruments and electromechanical devices with 2021 sales of
$5.5 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:
Kevin
Coleman
Vice President, Investor Relations and Treasurer
kevin.coleman@ametek.com
Phone: 610-889-5247
View original
content:https://www.prnewswire.com/news-releases/ametek-announces-two-acquisitions-301663771.html
SOURCE AMETEK, Inc.