Monday, January 6, 2014
Contact: James P. McKinley (610) 889-5234
Berwyn, PA, -- AMETEK, Inc. has acquired the Teseq Group, a leading manufacturer of test and measurement instrumentation for electromagnetic compatibility (EMC) testing, for CHF 83 million ($92 million). Headquartered in Luterbach, Switzerland, the privately held company has annual sales of approximately CHF 48 million ($53 million).
Teseq manufactures a broad line of conducted and radiated EMC compliance testing systems and RF amplifiers for a wide range of industries, including aerospace, automotive, consumer electronics, medical equipment, telecommunications and transportation.
“Teseq is an excellent addition to our electrical test and measurement business. It is a global leader in conducted and radiated EMC test equipment with a comprehensive product offering and extensive geographic coverage,” comments Frank S. Hermance, AMETEK Chairman and Chief Executive Officer.
“Teseq’s products and markets are complementary with our EM Test business, which we acquired in 2011. Its addition to that business provides us with opportunities for accelerating product innovation and market expansion worldwide,” adds Mr. Hermance.
Teseq has manufacturing and development operations in Luterbach as well as Germany, the United Kingdom and the United States with direct sales offices in China, France, Germany, Japan, Singapore, Switzerland, Taiwan, the United Kingdom and the United States.
It joins AMETEK as part of its Electronic Instruments Group (EIG) -- a recognized leader in advanced monitoring, testing, calibrating, and display instruments with 2012 sales of $1.9 billion.
AMETEK is a leading global manufacturer of electronic instruments and electro-mechanical devices with annualized sales of $3.6 billion. AMETEK’s Corporate Growth Plan is based on Four Key Strategies: Operational Excellence, Strategic Acquisitions & Alliances, 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.