Ametek Inc acquires ESP/SurgeX
Published: WORLD
WORLD: Ametek, Inc has announced the acquisition of intelligent energy and power protection manufacturer, ESP/SurgeX. The corporation has a large and varied portfolio of brands covering numerous market sectors. The purchase of ESP/SurgeX will reportedly complement its Electronic Instruments Group and allow the company to expand its presence in power protection – a market that Ametek describes as ‘an attractive growth platform’.
‘ESP is an excellent acquisition and a great strategic fit with our existing power protection platform,’ stated Ametek chairman and CEO, Frank Hermance. ‘The business is a leader in a highly differentiated niche market with industry-leading products and technologies that provide us with further opportunities to accelerate product innovation and market expansion worldwide.’
The acquisition means that ESP/SurgeX is now part of the Power Systems and Instruments Division of Ametek’s Electronic Instruments Group (EIG). The company was acquired for approximately US$130 million.