SPECTRO Analytical Instruments announced that it has been acquired by AMETEK, Inc., a leading global manufacturer of electronic instruments and electric motors. SPECTRO was acquired from an investor group led by German Equity Partners BV for approximately EUR80 million ($98 million). With i ... more
Spectro Scientific acquired by AMETEK
Spectro Scientific has been purchased by AMETEK, Inc. Spectro has annual sales of approximately $50 million and was acquired for approximately $190 million. Spectro was a privately held company and is headquartered in Chelmsford, Massachusetts. It joins AMETEK as part of its Electronic Instruments Group (EIG) - a leader in advanced analytical, monitoring, testing, calibrating and display instruments with annualized sales of $3.0 billion.
Spectro Scientific president and CEO Brian Mitchell said, “Our mission over the last several years has been to focus on new technology development; strategic company and product acquisitions; and the continual improvement of Spectro products, providing our customers with the most advanced, precise and convenient fluid analysis tools possible. To accomplish that, the dedication of our employees and global partners has been nothing short of astounding. Our customers can be assured that the legacy of support and innovation will continue.”
David A. Zapico, AMETEK Chairman and Chief Executive Officer said, “Spectro is an excellent acquisition for AMETEK. Their differentiated solutions serve an increasing need for predictive maintenance in a broad and growing set of end markets, including military and defense, process industrial, power generation and transportation. Spectro’s solution offering nicely complements our strategy to integrate instrumentation data into cloud-based software and analytics.”
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