Ametek Buys Micro-Poise Measurement Systems
Ametek, Inc. has acquired Micro-Poise Measurement Systems, a 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, Ohio, and has additional manufacturing operations in Troy, Mich., Beijing, China, and Lübeck, Germany. It has estimated 2012 sales of approximately $125 million.
"Micro-Poise is a great addition to Ametek. It has an excellent reputation within the industry and is the clear global leader in this niche, highly differentiated market. This acquisition further broadens our position in the highly attractive materials test and measurement equipment market and makes us a leader in a growing industry segment," notes Frank Hermance, Ametek's chairman and CEO.
"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," says Hermance. "Micro-Poise is well-positioned to take advantage of that growth. It has a large installed equipment base at many of the world's leading tire manufacturers, and 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's Electronic Instruments Group.