AMETEK acquires Spectro Scientific

AMETEK acquired Spectro Scientific for approximately $190 million, a transaction completed in November 2018, structured as all cash.

Spectro Scientific operates in EIG, is based in Chelmsford, Massachusetts, had revenue of about approximately $50 million in annual sales. A leading provider of machine condition monitoring solutions for critical assets in high-value industrial applications. Spectro provides both lab-based and onsite instrumentation, consumables and cloud-based software analytics to help customers determine and monitor the condition of fluids in mission-critical equipment.

An excellent acquisition whose differentiated solutions serve an increasing need for predictive maintenance in a broad and growing set of end markets, complementing AMETEK's strategy to integrate instrumentation data with cloud-based software and analytics.

Differentiated predictive-maintenance instrumentation and cloud analytics for growing industrial end markets. Complements AMETEK's strategy to integrate instrumentation data with cloud-based software and analytics. Electronic Instruments Group (EIG)

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, power generation and transportation. Spectro's solutions nicely complement our strategy to integrate instrumentation data with cloud-based software and analytics.David A. Zapico, Chairman and CEO, AMETEK

Advisory firms were not disclosed for this transaction.

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