BERWYN, Pa., Feb. 5, 2016 /PRNewswire/ -- AMETEK, Inc.
(NYSE: AME) today announced that it has completed two acquisitions:
Brookfield Engineering Laboratories, the world's leading
manufacturer of viscometers and rheometers, and ESP/SurgeX, a
leader in energy intelligence and power protection solutions.
"Brookfield Engineering and ESP/SurgeX are excellent
acquisitions and strong additions to our Electronic Instruments
Group. These businesses will allow us to expand our presence in
laboratory instrumentation and power protection, two attractive
growth platforms," comments Frank S.
Hermance, AMETEK Chairman and Chief Executive Officer.
Brookfield Engineering
Brookfield offers a complete range of
viscometers and rheometers as well as instrumentation to analyze
texture and powder flow. Its products are used primarily for
quality control applications in the manufacture of products in a
broad range of markets including food and beverage,
pharmaceuticals, oil and gas, paints, solvents, chemicals, coatings
and packaging.
"Brookfield is an outstanding
acquisition. It is the global leader in viscosity measurement
instrumentation. Its products and technologies complement our
existing laboratory instrumentation businesses and provide us with
opportunities to expand that business platform into a broader range
of markets and applications," comments Mr. Hermance.
Brookfield Engineering Laboratories, with annual sales of
approximately $55 million, was
acquired for approximately $167
million. Headquartered in Middleboro, MA, with additional operations in
Germany, the United Kingdom, China and India, Brookfield joins AMETEK as a unit of its
Instrumentation and Specialty Controls division within the AMETEK
Electronic Instruments Group (EIG).
ESP/SurgeX
ESP/SurgeX is a leader in power protection,
monitoring, and diagnostic solutions. They are the leading
industry provider of on-site and remote power protection products
used by industries to lower service costs and ensure reliable
electric power to critical equipment. Its patented technology
is widely used by the business equipment, imaging, audio visual,
information technology, gaming and vending industries. ESP's
product portfolio includes surge elimination solutions, multi-stage
power protection products, energy management solutions, and remote
diagnostic and predictive capabilities.
"ESP is an excellent acquisition and a great strategic fit with
our existing power protection platform," notes Mr. Hermance.
"The business is a leader in a highly differentiated niche market
with industry-leading products and technologies that provide us
with further opportunities to accelerate product innovation and
market expansion worldwide."
ESP/SurgeX, has annual sales of approximately $40 million and was acquired for approximately
$130 million. With manufacturing
operations in Knightdale, NC,
ESP/SurgeX joins AMETEK as part of the Power Systems and
Instruments Division of its Electronic Instruments Group (EIG).
Corporate Profile
AMETEK is a leading global
manufacturer of electronic instruments and electro-mechanical
devices with annual sales of $4.0 billion.
AMETEK's Corporate Growth Plan 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.
Forward-looking Information
Statements in this news
release relating to future events, such as AMETEK's expected
business and financial performance are "forward-looking
statements." Forward-looking statements are subject to
various factors and uncertainties that may cause actual results to
differ significantly from expectations. These factors and
uncertainties include AMETEK's ability to consummate and
successfully integrate future acquisitions; risks associated with
international sales and operations; AMETEK's ability to
successfully develop new products, open new facilities or transfer
product lines; the price and availability of raw materials;
compliance with government regulations, including environmental
regulations; changes in the competitive environment or the effects
of competition in our markets; the ability to maintain adequate
liquidity and financing sources; and general economic conditions
affecting the industries we serve. A detailed discussion of
these and other factors that may affect our future results is
contained in AMETEK's filings with the U.S. Securities and Exchange
Commission, including its most recent reports on Form 10-K, 10-Q
and 8-K. AMETEK disclaims any intention or obligation to
update or revise any forward-looking statements.
Contact: Kevin Coleman +1
610-889-5247
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SOURCE AMETEK, Inc.