Berwyn-Based Manufacturer of Electronic Instruments Makes Billion-Dollar Acquisition

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Image via Ametek.

Berwyn-based Ametek will acquire Abaco Systems of Huntsville, Ala., for $1.5 billion in an all-cash transaction that is expected to close mid-year, writes Jeff Blumenthal for the Philadelphia Business Journal.

Abaco is the global leader in open architecture rugged embedded systems. It creates open-architecture computing and electronic systems for several markets, including aerospace and defense. Its products are specifically designed to withstand extreme temperature, high vibration, and other harsh operating environments. Customers include Boeing, DRS, and Lockheed Martin.

The company, which has around 750 employees and sales of around $325 million, will join Ametek as part of its electronic instruments group.

“Their market-leading embedded computing solutions are ideally positioned across a number of attractive aerospace and defense platforms,” said Ametek CEO David Zapico.

This acquisition represents the first major deal for Amatek since it sold Reading Alloys for $250 million in March last year, following a review of its business. A month prior, Ametek acquired California-based IntelliPower for $115 million.

Ametek recorded earnings of $872 million for 2020, compared with $861 million in the previous year. Meanwhile, sales dropped to $4.5 billion from $5.1 billion in 2019.

Read more about Ametek in the Philadelphia Business Journal here.

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