Spectro Scientific (Chelmsford, Massachusetts, USA), one of the world’s largest suppliers of fluid analysis instrumentation and software, has been purchased by AMETEK, Inc. (Berwyn, Pennsylvania, USA).
Spectro has annual sales of ~$50 million and was acquired for ~$190 million. Spectro, which was a privately held company, joins AMETEK as part of its electronic instruments group (EIG).
“Our mission over the last several years has been to focus on new technology development; strategic company and product acquisitions; and the continual improvement of Spectro products, providing our customers with the most advanced, precise, and convenient fluid analysis tools possible,” says Brian Mitchell, president and CEO of Spectro.
“To accomplish that, the dedication of our employees and global partners has been nothing short of astounding,” Mitchell adds. “Our customers can be assured that the legacy of support and innovation will continue.”
The EIG business is described as a leader in advanced analytical, monitoring, testing, calibrating, and display instruments, with annualized sales of $3.0 billion.
“Spectro is an excellent acquisition for AMETEK,” says David A. Zapico, chairman and CEO of AMETEK. “Their differentiated solutions serve an increasing need for predictive maintenance in a broad and growing set of end markets, including military and defense, process industrial, power generation, and transportation. Spectro’s solution offering nicely complements our strategy to integrate instrumentation data into cloud-based software and analytics.”
Source: Spectro Scientific, www.spectrosci.com.