Ametek has successfully acquired Atlas Material Testing Technology from Industrial Growth Partners for US$159 million in cash. Atlas, a weather test instruments and consulting company, has an estimated US$85 million in sales for 2011 with its headquarters in Chicago and manufacturing facilities in Germany. Atlas will come under Ametek as part of its Measurement & Calibration Technologies division, a part of Ametek’s Electronic Instruments Group.
“Atlas is an excellent addition to Ametek. It is the clear global leader in this niche market and enjoys an excellent reputation with its customers and international standards setting organizations. Atlas provides us with another growth platform in the highly attractive materials testing equipment market and broadens our presence in the fast-growing photovoltaic testing market,” notes Frank Hermance, Ametek chairman and chief executive officer.
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