February 10, 2014. AMETEK Inc. has acquired VTI Instruments, a manufacturer of high-precision test and measurement instrumentation, for $74 million. VTI, acquired from an investor group led by Merit Capital Partners and Alerion Capital Group, has annual sales of approximately $38 million.
With its headquarters in Irvine, CA, VTI is a provider of highly engineered and customized products designed to deliver customers a complete, integrated solution for their critical test and measurement requirements. It offers a wide range of signal-conditioning and switching instruments, data-acquisition solutions, and integrated test systems for use in demanding electrical and structural testing applications where high measurement accuracy is critical.
“VTI is an excellent acquisition for AMETEK. It is a market leader in high-end data acquisition and precision instrumentation with deep technical expertise and applications knowledge,” commented Frank S. Hermance, AMETEK chairman and chief executive officer.
“The acquisition of VTI broadens our capabilities in the high-end test-and-measurement market and provides us with additional technology differentiation, especially in the high-precision segment of the aerospace market,” added Hermance.
VTI has operations in Irvine, CA, and additional facilities in Cleveland, OH, and Bangalore, India. It joins AMETEK as part of its Electronic Instruments Group (EIG)—a provider of advanced monitoring, testing, calibrating, and display instruments with 2013 sales of $2.0 billion.
AMETEK is a global manufacturer of electronic instruments and electro-mechanical devices with annual sales of $3.6 billion. AMETEK’s Corporate Growth Plan is based on Four Key Strategies: Operational Excellence, Strategic Acquisitions, Global & Market Expansion and New Products. AMETEK’s objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. The common stock of AMETEK is a component of the S&P 500 Index.