AMETEK Hopes to Fortify Itself With $297m Purchase of Niche Manufacturers
The growth strategy of precision instrument and device maker AMETEK is steady and calculated, and the Berwyn-based firm’s two newest acquisitions perfectly fit that mold.
Not much will change in the trajectory of the $4 billion-a-year manufacturer as a result of its $297 million acquisition of Massachusetts and North Carolina niche players Brookfield Engineering and ESP/SurgeX.
What will happen is that the two firms will “fortify AMETEK when facing volatile market conditions,” according to a Philadelphia Business Journal report.
The recent deals “allow us to expand our presence in laboratory instrumentation and power protection, two attractive growth platforms,” CEO Frank S. Hermance said in the article.
AMETEK scooped up ESP/SurgeX, in particular, at a time when it still boasts a lot of potential.
“We’re glad to see that ESP/SurgeX has found a new home with AMETEK and is well-positioned to continue in its growth and market leadership,” Gridiron Capital Managing Partner Tom Burger said in the article.
Read more about the deals in the Philadelphia Business Journal here, and check out previous VISTA Today coverage of Chester County leader AMETEK here.
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