Ametek Acquires Micro-Poise Measurement Systems
Ametek has acquired Micro-Poise Measurement Systems, a leading provider of integrated test and measurement solutions for the tire industry, from American Industrial Partners, a private equity firm, for approximately $170 million in cash.
Micro-Poise is headquartered in Streetsboro, OH, and has additional manufacturing operations in Troy, MI; Beijing, China; and Lübeck, Germany. It has estimated 2012 sales of approximately $125 million.
According to Frank S. Hermance, Ametek's Chairman and Chief Executive Officer, the acquisition broadens Ametek's position in the materials test and measurement equipment market.
"Driving market growth in both developed and emerging markets is the need for more sophisticated test and measurement techniques due to the increased variety and complexity of tire designs, the globalization of tire manufacturing capacity and more stringent quality requirements," said Hermance.
Acquiring Micro-Poise gives Ametek a strategic advantage because Micro-Poise has a large installed equipment base at many of the world's leading tire manufacturers and it is the only industry supplier of all key test and measurement techniques with products that offer best-in-class accuracy, repeatability and cycle times.
Micro-Poise joins Ametek as part of its Electronic Instruments Group (EIG).