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Spectro Scientific Acquired by AMETEK, Inc.

November 27, 2018

CHELMSFORD, Mass.--(BUSINESS WIRE)--Nov 27, 2018--Spectro Scientific, one of the world’s largest suppliers of fluid analysis instrumentation and software, has been purchased by AMETEK, Inc. Spectro has annual sales of approximately $50 million and was acquired for approximately $190 million. Spectro was a privately held company and is headquartered in Chelmsford, Massachusetts. It joins AMETEK as part of its Electronic Instruments Group (EIG) - a leader in advanced analytical, monitoring, testing, calibrating and display instruments with annualized sales of $3.0 billion.

Spectro Scientific president and CEO Brian Mitchell said, “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. To accomplish that, the dedication of our employees and global partners has been nothing short of astounding. Our customers can be assured that the legacy of support and innovation will continue.”

David A. Zapico, AMETEK Chairman and Chief Executive Officer said, “Spectro is an excellent acquisition for 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.”

More About Spectro Scientific

Spectro Scientific specializes in analytical instrumentation and software for machine condition monitoring. It is one of the largest global suppliers of fluid analysis instruments to industry and the military worldwide. Industry clients include petrochemical, fleets, mining and power generation companies as well as commercial testing laboratories. Spectro Scientific’s extensive product offerings include spectrometers for wear metal analysis, lubricant degradation and contamination analyzers, particle analysis instruments, complete turnkey systems for oil or fuel analysis laboratories and the TruVu 360™ enterprise fluid intelligence data management platform.

More About AMETEK

AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with annualized sales of approximately $4.8 billion. AMETEK’s growth model 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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181127005693/en/

CONTACT: Spectro Scientific

Sandra Schiller, 978-431-1129

sschiller@spectrosci.com

KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE SEMICONDUCTOR MANUFACTURING ENGINEERING RESEARCH SCIENCE

SOURCE: Spectro Scientific

Copyright Business Wire 2018.

PUB: 11/27/2018 12:24 PM/DISC: 11/27/2018 12:24 PM

http://www.businesswire.com/news/home/20181127005693/en

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