Monday, February 10, 2014
Contact: Jim McKinley (610) 889-5234
Berwyn, PA -- AMETEK, Inc. has acquired VTI Instruments, a leading manufacturer of high-precision test and measurement instrumentation for $74 million. VTI, acquired from an investor group led by Merit Capital Partners and Alerion Capital Group, has annual sales of approximately $38 million.
With its headquarters in Irvine, CA, VTI is a leading provider of highly engineered and customized products designed to deliver customers a complete, integrated solution for their critical test and measurement requirements. It offers a wide range of signal conditioning and switching instruments, data acquisition solutions and integrated test systems for use in demanding electrical and structural testing applications where high measurement accuracy is critical.
“VTI is an excellent acquisition for AMETEK. It is a market leader in high end data acquisition and precision instrumentation with deep technical expertise and applications knowledge,” comments Frank S. Hermance, AMETEK Chairman and Chief Executive Officer.
“The acquisition of VTI broadens our capabilities in the high end test and measurement market and provides us with additional technology differentiation, especially in the high-precision segment of the aerospace market,” adds Mr. Hermance.
VTI has operations in Irvine, CA, and additional facilities in Cleveland OH, and Bangalore, India. It joins AMETEK as part of its Electronic Instruments Group (EIG) -- a recognized leader in advanced monitoring, testing, calibrating, and display instruments with 2013 sales of $2.0 billion.
AMETEK is a leading global manufacturer of electronic instruments and electro-mechanical devices with annual sales of $3.6 billion. AMETEK’s Corporate Growth Plan is based on Four Key Strategies: Operational Excellence, Strategic Acquisitions, Global & Market Expansion and New Products. AMETEK’s objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. The common stock of AMETEK is a component of the S&P 500 Index.