Ametek Announces Two Acquisitions
Monday, February 08, 2016
AMETEK Inc. has announced that it has completed two acquisitions: Brookfield Engineering and ESP/SurgeX.
"Brookfield Engineering and ESP/SurgeX are excellent acquisitions and strong additions to our Electronic Instruments Group," said Frank S. Hermance, chairman and CEO, AMETEK. "These businesses will allow us to expand our presence in laboratory instrumentation and power protection, two attractive growth platforms."
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," Hermance said. "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."
Brookfield, with annual sales of approximately $55 million, was acquired for approximately $167 million. Headquartered in Middleboro, Massachusetts, 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 is a leader in power protection, monitoring and diagnostic solutions. It is a leading industry provider of onsite 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," Hermance said. "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, North Carolina, ESP/SurgeX joins AMETEK as part of the Power Systems and Instruments Division of its Electronic Instruments Group (EIG).