AMETEK purchases Spectro Scientific

AMETEK, global manufacturer of electronic instruments and electromechanical devices based in Berwyn, recently completed its $190 million acquisition of Spectro Scientific.

Spectro provides cloud-based software analytics, consumables, and lab-based and onsite instrumentation to allow customers to determine and monitor the condition of fluids in mission-critical equipment. Customers include commercial testing laboratories as well as power generation, petrochemical, mining and fleets companies.

Headquartered in Chelmsford, Mass., Spectro has annual sales of approximately $50 million. The company’s goal has been to focus on new technology development and product acquisitions.

A privately held company, Spectro will join AMETEK’s Electronic Instruments Group. The group provides advanced analytical, monitoring, testing, calibrating and display instruments and has annualized sales of $3 billion.

“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, power generation and transportation,” David A. Zapico, AMETEK chairman and CEO, said. “Spectro’s solutions nicely complement our strategy to integrate instrumentation data with cloud-based software and analytics.”

AMETEK has annualized sales of approximately $4.8 billion. The company’s goal is to achieve double-digit percentage growth in earnings per share over the business cycle.