AMETEK (NYSE: AME) plans $5B Indicor Instrumentation acquisition
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
AMETEK has entered a definitive agreement to acquire Indicor Instrumentation, a portfolio of industrial technology businesses, in an all‑cash transaction valued at approximately $5.0 billion. Indicor Instrumentation generates about $1.1 billion in annual sales, with profitability levels consistent with AMETEK and roughly 50% recurring aftermarket revenue from consumables, services, and support.
The businesses will be integrated into AMETEK’s Electronic Instruments Group and Electromechanical Group based on product and market fit. AMETEK expects annualized synergies of 10% to 12% of sales, year‑1 cash earnings accretion, and strong returns on capital. The deal will be funded through borrowings under AMETEK’s existing credit facility and new debt, with expected leverage at closing of about 2.3x. The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the second half of 2026.
Positive
- $5.0 billion all-cash acquisition adds Indicor Instrumentation’s ~$1.1 billion in annual sales with profitability described as consistent with AMETEK and significant recurring aftermarket revenue.
- Targeted 10%-12% annualized synergies and management’s expectation of year‑1 cash earnings accretion and strong returns on capital indicate a potentially value-creating transaction if execution is successful.
Negative
- None.
Insights
AMETEK is using balance sheet capacity to add a sizable, recurring-revenue instrumentation portfolio with targeted cost synergies.
AMETEK plans to acquire Indicor Instrumentation for $5.0 billion in cash, adding about $1.1 billion of annual sales with profitability described as consistent with AMETEK. Management highlights roughly 50% recurring aftermarket revenue and integration into its Electronic Instruments and Electromechanical Groups.
The company targets annualized synergies of 10%-12% of sales, year‑1 cash earnings accretion, and strong returns on capital. Funding will come from credit facility borrowings and new debt, implying leverage of roughly 2.3x at closing. Actual value creation will depend on realizing synergies and integrating multiple brands into AMETEK’s operating model.
The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the second half of 2026. Future updates through company filings and presentations may provide more detail on integration progress, realized synergies, and any adjustments to leverage or capital allocation priorities after closing.
8-K Event Classification
2 items: 8.01, 9.01
2 items
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Acquisition price: $5.0 billion cash
Indicor annual sales: ≈$1.1 billion
EBITDA multiple: ≈14x EBITDA
+4 more
7 metrics
Acquisition price
$5.0 billion cash
All-cash consideration for Indicor Instrumentation
Indicor annual sales
≈$1.1 billion
Indicor Instrumentation’s annual sales level
EBITDA multiple
≈14x EBITDA
Implied valuation multiple for the acquisition
Aftermarket revenue mix
≈50% of revenue
Indicor Instrumentation recurring aftermarket revenue share
Synergy target
10%-12% of sales
Expected annualized synergies from the acquisition
Expected leverage at closing
≈2.3x
Leverage anticipated when the transaction closes
AMETEK annual sales
≈$7.5 billion
AMETEK’s company-wide annual sales
Key Terms
definitive agreement, all‑cash transaction, EBITDA, aftermarket revenue, +2 more
6 terms
definitive agreement financial
"announced that it has entered into a definitive agreement to acquire a portfolio"
A definitive agreement is a formal, legally binding document that outlines the final terms and conditions of a deal or transaction, such as a sale or partnership. It acts like a detailed contract that confirms all parties have agreed on the key details, making the deal official. For investors, it signals that the agreement is settled and moving toward completion, providing clarity and security about the transaction.
all‑cash transaction financial
"in an all‑cash transaction valued at approximately $5.0 billion"
EBITDA financial
"Represents ~14x EBITDA"
EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.
aftermarket revenue financial
"generate a substantial base of recurring revenue from consumables, services, and aftermarket support"
annualized synergies financial
"Synergy opportunity: Annualized synergies of 10% to 12% of sales"
forward-looking statements regulatory
"Statements in this presentation that are not historical in nature are considered “forward-looking statements”"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
__________________
FORM 8-K
__________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 6, 2026
__________________
(Exact name of registrant as specified in its charter)
__________________
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | |||||||||
| (Address of principal executive offices) | (Zip Code) | ||||||||||
Registrant’s telephone number, including area code: (610 ) 647-2121
Not Applicable
(Former name or former address, if changed since last report)
__________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 8.01 Other Events
On May 6, 2026, the Company issued a press release announcing it has entered into a definitive agreement to acquire a portfolio of instrumentation businesses from Indicor, LLC (“Indicor Instrumentation”). A copy of the release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
On May 6, 2026, the Company held a conference call with investors to discuss Indicor Instrumentation. A copy of the investor presentation is furnished as Exhibit 99.2 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |||||||
99.1 | Press Release dated May 6, 2026, “AMETEK Announces Agreement to Acquire Indicor Instrumentation" | |||||||
99.2 | Investor Presentation dated May 6, 2026 | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AMETEK, Inc. | |||||||||||
| May 6, 2026 | By: | /s/ ROBERT J. AMODEI | |||||||||
| Name: Robert J. Amodei | |||||||||||
| Title: Senior Vice President – Controller | |||||||||||
Exhibit 99.1
AMETEK Announces Agreement to Acquire Indicor Instrumentation
Berwyn, Pa., May 6, 2026 - AMETEK, Inc. (NYSE: AME) today announced that it has entered into a definitive agreement to acquire a portfolio of instrumentation businesses from Indicor, LLC (“Indicor Instrumentation”) in an all‑cash transaction valued at approximately $5.0 billion.
Indicor Instrumentation is a group of leading businesses that design and manufacture mission critical solutions for demanding industrial and scientific applications. Its products serve customers across attractive end markets that align closely with AMETEK’s existing portfolio and generate a substantial base of recurring revenue from consumables, services, and aftermarket support.
“Indicor is an exceptional fit for AMETEK,” said David A. Zapico, AMETEK Chairman and Chief Executive Officer. “In a single transaction, we are adding a high-quality group of businesses with differentiated technologies, strong market positions, and attractive growth prospects. We see meaningful potential to create value through integration into AMETEK’s operating model.”
Indicor Instrumentation generates approximately $1.1 billion in annual sales and has profitability levels consistent with AMETEK. Following closing of the transaction, the businesses will be integrated into AMETEK’s Electronic Instruments Group (EIG) and Electromechanical Group (EMG) based on product offerings and market alignment.
AMETEK plans to fund the acquisition through borrowings under its existing credit facility and new debt issuance. The transaction is subject to customary closing conditions, including applicable regulatory approvals, and is expected to close in the second half of 2026.
AMETEK will host a conference call to discuss the acquisition at 8:00 a.m. Eastern Time on May 6, 2026. The live audio webcast will be available and later archived in the Investors section of www.ametek.com.
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 $7.5 billion. The AMETEK Growth Model integrates the Four Growth Strategies - Operational Excellence, Technology Innovation, Global and Market Expansion, and Strategic Acquisitions - with a disciplined focus on cash generation and capital deployment. AMETEK's objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. Founded in 1930, AMETEK has been listed on the NYSE for over 95 years and is a component of the S&P 500. For more information, visit www.ametek.com.
Contact:
Kevin Coleman
Vice President, Investor Relations & Treasurer
kevin.coleman@ametek.com
Phone: 610.889.5247
Ametek’s Strategic Acquisition of Indicor Instrumentation May 2026 Exhibit 99.2
Statements in this presentation that are not historical in nature are considered “forward-looking statements” and are subject to change based on various risk factors and uncertainties that may cause actual results to differ significantly from expectations. Those factors are contained in AMETEK’s Securities and Exchange Commission filings. AMETEK disclaims any intention or obligation to update or revise any forward-looking statements. In this presentation certain non-GAAP financial measures may be used. Please see the Investors section of AMETEK’s website (www.ametek.com) for a reconciliation to the appropriate GAAP measure. Cautionary Statements 2
acquisition overview Highly strategic acquisition of a diversified industrial technology portfolio3 • Highly strategic acquisition of a portfolio of industrial technology businesses • Unique opportunity to acquire scaled portfolio of respected brands aligned with AMETEK’s growth strategy • Provider of differentiated mission-critical solutions serving attractive end markets • Strong strategic and operational fit expected to drive meaningful shareholder value creation • ~$1.1 billion in annual sales
Compelling strategic fit and value creation 4 • Strategic alignment: Perfect fit with AMETEK's mission-critical niche market strategy • Diversified exposure: Complementary end markets and balanced geographic mix • Recurring revenue: ~50% aftermarket mix reinforced by strong IP and embedded customer relationships • Synergy opportunity: Annualized synergies of 10% to 12% of sales • Financial returns: Year 1 cash earnings accretion and strong returns on capital Disciplined acquisition strategy creating substantial shareholder value
Businesses closely aligned with the Ametek portfolio Close end market alignment and distributed integration reduces risk5 Electronic Instruments Group (EIG) Electromechanical Group (EMG) End Market AMETEK AMETEK + Indicor Medical 21% 20% Aerospace & Defense 18% 17% Power 10% 10% Research 10% 10% Semiconductor 5% 4% Oil & Gas 4% 6% Food & Beverage 3% 4% General Industrial & Other 29% 29%
Transaction Overview 6 Consideration and Valuation • Cash consideration of $5.0B • Represents ~14x EBITDA Financing • Funded through credit facility borrowings and new debt • Expected leverage at closing ~2.3x Financial Impact • Attractive cash earnings accretion in Year 1 and strong returns on capital • Profitability in-line with AMETEK; typical synergies of 10% to 12% of sales Timing and Approvals • Subject to customary closing conditions and regulatory approvals • Transaction expected to close in 2nd half 2026 Leveraging balance sheet flexibility to acquire a strategically- aligned portfolio of high-quality businesses and create shareholder value
A closer look at indicor instrumentation businesses Leading providers of mission-critical solutions with sizeable recurring revenue Business Business Description AMETEK Reportable Segment Key End Markets Sample preparation solutions and services for quality control and research applications EIG Research, Aero & Defense, General Industrial Remote monitoring and control solutions and services for the utility and critical infrastructure markets EIG Utilities, Infrastructure Advanced laboratory and process analytical instruments for use in mission critical testing applications EIG Energy, Research, MedTech Actuation solutions used to optimize operating performance, reduce emissions and ensure safe operations EMG Power, Energy Control solutions used to ensure safety across food processing and pharmaceutical applications EMG Food & Beverage, General Industrial Advanced laboratory and quality control instruments and services in support of materials analysis EIG Aero & Defense, General Industrial Process control instrumentation and aftermarket services for laboratory and quality control applications EIG General Industrial Monitoring and sensing solutions for use in gas turbines and other mission critical applications EIG Power, General Industrial In-line and laboratory process inspection equipment for use in food and beverage and packaging industries EIG Food & Beverage, General Industrial Precision flow measurement solutions and services for mission critical applications EIG Aero & Defense, Energy 7
Strategically and financially compelling acquisition Disciplined capital deployment creates lasting shareholder value8 • Strategic fit: Complementary to AMETEK's mission- critical niche market strategy • Scale & diversification: ~$1.1B in sales across diversified end markets, technologies and geographies • Resilient revenue: ~50% recurring aftermarket revenue with deep customer relationships • Value creation: 10% to 12% annualized synergies through the AMETEK Growth Model • Strong returns: Year 1 cash earnings accretion and strong returns on capital
• Q & A
FAQ
What did AMETEK (AME) announce regarding Indicor Instrumentation?
AMETEK announced a definitive agreement to acquire Indicor Instrumentation in an all-cash transaction valued at approximately $5.0 billion. The deal adds a portfolio of industrial and scientific instrumentation businesses aligned with AMETEK’s existing markets and growth strategy.
How large is Indicor Instrumentation compared with AMETEK’s current business?
Indicor Instrumentation generates approximately $1.1 billion in annual sales, compared with AMETEK’s annual sales of about $7.5 billion. This represents a meaningful expansion of AMETEK’s industrial technology portfolio and end-market exposure.
How will AMETEK (AME) finance the Indicor Instrumentation acquisition?
AMETEK plans to fund the approximately $5.0 billion purchase price with borrowings under its existing credit facility and new debt issuance. The company expects leverage at closing to be around 2.3x, reflecting use of its balance sheet for the transaction.
What financial benefits does AMETEK expect from acquiring Indicor Instrumentation?
AMETEK expects year‑1 cash earnings accretion, profitability in line with its existing business, and annualized synergies of 10% to 12% of sales. Management also cites strong anticipated returns on capital from integrating these businesses into AMETEK’s operating model.
When is the AMETEK–Indicor Instrumentation transaction expected to close?
The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the second half of 2026. AMETEK has also scheduled a conference call and investor presentation to discuss further details with investors.
What type of revenue mix does Indicor Instrumentation contribute to AMETEK (AME)?
Indicor Instrumentation provides mission-critical solutions with a substantial base of recurring revenue. About 50% of its revenue comes from aftermarket sources, including consumables, services, and support, which can enhance AMETEK’s recurring revenue profile.