Global electronics manufacturer nets German company
BERWYN, Pa. (May 21, 2012) – AMETEK, Inc. announced that it has completed the previously announced acquisition of the parent company of Dunkermotoren GmbH, a motion control solutions company, for a wide range of industrial automation applications. The privately held manufacturer has expected 2012 sales of approximately €155 million ($200 million) and is headquartered in Bonndorf, Germany. AMETEK acquired the business from Triton, a European private equity firm for approximately €250 million ($320 million), net of cash received.
The acquisition of Dunkermotoren is expected to be immediately accretive, adding approximately $0.02 per diluted share to 2012 earnings and approximately $0.10 per diluted share to earnings in 2013.
“We are excited about the acquisition of such an outstanding company,” said Frank S. Hermance, AMETEK Chairman and Chief Executive Officer. “Dunkermotoren is a global leader in highly engineered advanced motion control solutions for niche applications. It is an excellent strategic and highly complementary fit with our Precision Motion Control business. It expands our leadership position in niche rotary and linear motion applications. In addition, it broadens our manufacturing capabilities in both Europe and China, and greatly expands our presence in key industrial end markets.”
Dunkermotoren is a leader in advanced motion control solutions for a wide range of industrial automation applications, including factory equipment, office machines, medical devices and laboratory equipment. In addition to its facility in Bonndorf, Germany, Dunkermotoren has manufacturing operations in China and Serbia.
The business joins AMETEK as part of AMETEK Precision Motion Control, a division of AMETEK’s Electromechanical Group (EMG). AMETEK EMG, which had 2011 sales of $1.3 billion, is a leader in technical motors and associated systems, electrical interconnects, and specialty metals.
AMETEK, Inc. is a global manufacturer of electronic instruments and electro-mechanical devices with annualized sales of $3.3 billion. AMETEK’s Corporate Growth Plan is based on Four Key Strategies: Operational Excellence, Strategic Acquisitions & Alliances, 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 MidCap 400 and the Russell 1000 Indices.