AMETEK Acquires Alphasense
AMETEK announced the acquisition of Alphasense, a UK-based provider of gas and particulate sensors, for approximately £25 million.
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Rhea-AI Summary
AMETEK announced the acquisition of Alphasense, a UK-based provider of gas and particulate sensors, for approximately £25 million. This acquisition expands AMETEK's presence in the environmental health and safety market, which is considered attractive for future growth. Alphasense, with annual sales of £25 million, will join AMETEK's Electronic Instruments Group. AMETEK has annual sales of $5.5 billion and aims for double-digit earnings growth through strategic acquisitions and market expansion.
Positive
- Acquisition of Alphasense expands AMETEK's offering in the environmental health and safety market.
- Alphasense's annual sales of £25 million contribute to AMETEK's growth strategy.
- Strengthens AMETEK's position within its Electronic Instruments Group.
Negative
- None.
Details
News Market Reaction – AME
The recorded move for AME in the trading session of this news was -0.51%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
BERWYN, Pa., Dec. 1, 2021 /PRNewswire/ -- AMETEK, Inc. (NYSE: AME) today announced the acquisition of Alphasense, a leading provider of gas and particulate sensors for use in environmental, health and safety, and air quality applications.
Alphasense designs and manufactures a broad range of technologically advanced gas detection sensors used in fixed and portable detection systems. Alphasense sensors provide critical measurements of oxygen concentration, harmful toxic gases, and volatile organic compounds across a wide range of industrial, commercial, and environmental applications.
"We are excited to welcome Alphasense to AMETEK," comments David A. Zapico, AMETEK Chairman and Chief Executive Officer. "Alphasense is an excellent acquisition for AMETEK and a highly complementary fit with our existing sensor businesses expanding our presence in the attractive environmental health and safety market."
Alphasense is headquartered in Great Notley, Essex, UK. Alphasense has annual sales of approximately
Corporate Profile
AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with annualized sales of
Contact:
Kevin Coleman
Vice President, Investor Relations and Treasurer
kevin.coleman@ametek.com
Phone: 610-889-5247
View original content:https://www.prnewswire.com/news-releases/ametek-acquires-alphasense-301434553.html
SOURCE AMETEK, Inc.
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