Publicly traded AMETEK Inc. has completed the acquisition of ESP/SurgeX, the power protection, monitoring, and diagnostic solutions provider. Headquartered in Berwyn, PA, AMETEK is a global manufacturer of electronic instruments and electromechanical devices with sales of approximately $4 billion.
“ESP/SurgeX is an excellent acquisition and a great strategic fit with our existing power protection platform," noted Frank S. Hermance, AMETEK chairman and CEO. "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, NC, ESP/SurgeX joins AMETEK as part of the Power Systems and Instruments Division of its Electronic Instruments Group (EIG).
AMETEK plans to add ESP/SurgeX and a second acquisition, Brookfield Engineering, to its Electronic Instruments Group
“These businesses will allow us to expand our presence in laboratory instrumentation and power protection, two attractive growth platforms," Hermance said.
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.
