For $128 Million AMETEK adds Powervar to its Electronics Instruments Group

December 03, 2013 by Jeff Shepard

AMETEK, Inc. today announced that it has acquired Powervar, Inc., a provider of power management systems and uninterruptible power supply (UPS) systems, for approximately $128 million. Headquartered in Waukegan, IL, the privately held company has annual sales of approximately $70 million. Powervar has its manufacturing operations in Waukegan, IL and sales and service offices in Canada, Germany, Mexico and the United Kingdom. It joins AMETEK as part of its Electronic Instruments Group (EIG), with 2012 sales of $1.9 billion.

Powervar provides highly engineered and customized products designed to deliver reliable, high-quality power to critical applications. It offers an industry-leading product line and a broad range of UL and IEC certified products. Its transformer-based power conditioners and UPS systems serve a wide range of end markets, including medical, life sciences, industrial, retail and telecommunications. Its products feature a unique isolation transformer technology that is important to providing quality power and protection.

"Powervar is an excellent addition to our power systems and instruments business. Its strong presence in medical and life sciences provides our power businesses with excellent new growth opportunities in these attractive market segments. Its products are highly complementary to our existing power quality and UPS systems. In addition, Powervar provides world-class applications expertise, considerable new product development capability, and best-in-class product quality," notes Frank S. Hermance, AMETEK Chairman and Chief Executive Officer.