AMETEK Acquires Atlas Material Testing Technology
AMETEK, Inc. has acquired Atlas Material Testing Technology LLC from Industrial Growth Partners for approximately $159 million in cash. Atlas joins AMETEK as part of AMETEK Measurement & Calibration Technologies (M&CT), a division of AMETEK's Electronic Instruments Group (EIG).
AMETEK M&CT designs, manufactures and distributes material test instruments for a wide range of applications such as tensile, hardness and force testing, pressure and signal calibration and for high accuracy temperature. The company also produces a suite of sensors for pressure, level, position and temperature.
Atlas' products include specialty lighting systems, corrosion-testing instruments, weathering exposure test systems and large-scale weathering test chambers. Its customers include testing laboratories and leading aerospace, paint, coating, polymer, plastic, solar/photovoltaic, pharmaceutical, LED and automotive manufacturers.
"Atlas provides us with another growth platform in the...materials testing equipment market and broadens our presence in the fast-growing photovoltaic testing market," explained Frank S. Hermance, AMETEK chairman and CEO.
Atlas' products test the effects of weathering by simulating exposure to sunlight, temperature, moisture and corrosion.