AMETEK Completes Acquisition of First Aviation Services
AMETEK (NYSE: AME) has completed its acquisition of First Aviation Services, a defense and aviation MRO provider and components manufacturer.
Rhea-AI Summary
AMETEK (NYSE: AME) has completed its acquisition of First Aviation Services, a defense and aviation MRO provider and components manufacturer.
First Aviation generates about $80 million in annual revenue, operates six U.S. centers of excellence, and will join AMETEK’s Electromechanical Group, expanding mission-critical aerospace and defense capabilities.
Positive
- Acquisition adds approximately $80 million in annual revenue
- Expands defense and aviation MRO capabilities and proprietary components
- Adds six U.S. centers of excellence to AMETEK’s footprint
- Strengthens AMETEK’s Electromechanical Group in aerospace and defense platforms
Negative
- None.
Details
News Market Reaction – AME
In the May 26 session, AME gained 2.19%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
- First Aviation revenue
- $80 million
- Annual revenue of First Aviation Services
- AMETEK sales
- $7.5 billion
- AMETEK annual sales mentioned in corporate profile
- Centers of excellence
- 6
- First Aviation U.S. centers of excellence
- Founding year
- 1930
- Year AMETEK was founded
- NYSE listing tenure
- over 95 years
- Time AMETEK has been listed on NYSE
Previous Acquisition Reports
-
All-cash agreement to acquire Indicor Instrumentation for about $5.0B.
-
Agreement to acquire First Aviation, expanding defense and aviation MRO.
-
Completion of LKC Technologies deal, adding ophthalmic diagnostics.
-
Completion of FARO Technologies acquisition valued at about $920M.
-
Definitive agreement to acquire FARO Technologies at a 40% premium.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
maintenance, repair and overhaul technical
mro technical
s&p 500 financial
nyse financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
"We are excited to welcome the First Aviation team to AMETEK," said David A. Zapico, AMETEK Chairman and Chief Executive Officer. "First Aviation is an excellent strategic fit with our existing MRO business, creating attractive opportunities for market expansion and added scale in support of mission-critical aerospace and defense applications. Their proprietary products and services nicely complement AMETEK's capabilities and strengthen our position across attractive platforms."
First Aviation's MRO capabilities include advanced electronics, rotor blades and assemblies, propellers, landing gear, and flight controls. In addition, the company specializes in the design, engineering, and manufacturing of critical parts across a wide range of defense and aviation platforms.
First Aviation Services generates approximately
Corporate Profile
AMETEK (NYSE: AME) is a leading global provider of industrial technology solutions serving a diverse set of attractive niche markets with annual sales of approximately
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-completes-acquisition-of-first-aviation-services-302779415.html
SOURCE AMETEK, Inc.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.