Spectro joins Ametek as part of its electronic instruments group, involved advanced monitoring, testing, calibrating and display instruments
Spectro Analytical Instruments has been acquired by Ametek, a manufacturer of electronic instruments and electric motors.
Spectro was acquired from an investor group led by German Equity Partners for approximately euro 80 million (US$98 million).
With its headquarters in Kleve, Germany, Spectro has annual sales of approximately euro 85 million ($104 million).
Spectro joins Ametek as part of its electronic instruments group, involved advanced monitoring, testing, calibrating and display instruments.
Ametek EIG sells its instruments to the process, aerospace, power and industrial markets worldwide and had 2004 sales of approximately $667 million.
"We are very excited about the acquisition of Spectro," comments Ametek chairman and chief executive officer Frank Hermance.
"Spectro is a highly differentiated business which significantly expands our elemental analysis capabilities, bringing new technologies and market opportunities to Ametek.
"With this acquisition, our high-end analytical businesses now total nearly $375 million in annual revenue".
With more than 22,000 instruments shipped to customers throughout the world, Spectro says it delivers advanced products, better and more diverse solutions, and an unparalleled support infrastructure.
Franzotto Hornung, CEO of Spectro, added: "The acquisition strengthens our position as a leading supplier and will allow us to offer our customers an even stronger unique value proposition comprised of high quality innovative products and enhanced global support and services.
"Spectro's reach as a global supplier and innovator has been greatly extended by this acquisition, positioning us well for continued growth".
"Spectro holds a leading market position for metal analysers, employing arc/spark optical emission spectrometry - a technique widely regarded as the most precise and reliable measurement for this market.
"Spectro's inductively coupled plasma (ICP) optical emission spectrometers also bring to Ametek the capability to make analytical liquids analysis, opening new measurement opportunities for Ametek, particularly for environmental testing.
"In addition, Spectro's ED-XRF-based products complement those manufactured by our Edax business, enabling Ametek to supply a broader range of products to this very attractive market," added Hermance.
