M&A Deal Summary

AMETEK Acquires Abaco Systems

On March 22, 2021, AMETEK acquired technology hardware company Abaco Systems from Veritas Capital for 1.4B USD

Acquisition Highlights
  • This is AMETEK’s 7th transaction in the Technology Hardware sector.
  • This is AMETEK’s largest (disclosed) transaction.
  • This is AMETEK’s 56th transaction in the United States.
  • This is AMETEK’s 1st transaction in Alabama.

M&A Deal Summary

Date 2021-03-22
Target Abaco Systems
Sector Technology Hardware
Buyer(s) AMETEK
Sellers(s) Veritas Capital
Deal Type Add-on Acquisition
Deal Value 1.4B USD

Target

Abaco Systems

Huntsville, Alabama, United States
Abaco Systems is a provider of open architecture computing and electronic systems for aerospace, defense, and industrial solutions. The Company's portfolio of commercial-off-the-shelf ("COTS") products is based on high-performance, rugged computing technologies and custom designs for use in a wide array of applications and is designed to withstand harsh environments such as extreme temperature, high vibration and exposure to natural elements. Abaco Systems was founded in 2015 and is based in Huntsville, Alabama.

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Buyer(S) 1

Buyer

AMETEK

Berwyn, Pennsylvania, United States

Category Company
Founded 1930
Sector Test/Measurement Equipment
Employees21,500
Revenue 6.6B USD (2023)
DESCRIPTION
Entrance to AMETEK's headquarters in Berwyn, Pennsylvania.
Entrance to AMETEK's headquarters in Berwyn, Pennsylvania.

AMETEK is a global manufacturer of electronic instruments and electromechanical devices. AMETEK was founded in 1930 and is based in Berwyn, Pennsylvania.


DEAL STATS #
Overall 65 of 72
Sector (Technology Hardware) 7 of 8
Type (Add-on Acquisition) 58 of 65
State (Alabama) 1 of 1
Country (United States) 56 of 59
Year (2021) 1 of 6
Size (of disclosed) 1 of 37
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-05 IntelliPower

Orange, California, United States

IntelliPower designs and manufactures a broad portfolio of ruggedized solutions including uninterruptible power systems, external battery packs, power distribution units and power conditioners. These products protect mission-critical applications by utilizing high-efficiency, power-switching technology which can be remotely monitored and managed.

Buy $115M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-29 Crank Software

Ottawa, Ontario, Canada

Crank Software is a provider of embedded graphical user interface (GUI) software and services. Storyboard – the company’s flagship offering – is a premier, innovative solution that enables the design and development of customized user experiences in a wide range of embedded products. Crank Software also offers a unique and customizable set of professional services that takes customers from concept to completion in their GUI design and development cycle. Crank Software is based in Ottawa, Ontario.

Buy -

Seller(S) 1

SELLER

Veritas Capital

New York, New York, United States

Category Private Equity Firm
Founded 1992
PE ASSETS 40.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Veritas Capital is a private equity investment firm that targets investments in defense, aerospace, government services, media/telecommunications, consumer products, and specialty manufacturing companies. Veritas generally partners with management when pursuing investments. Prospective transaction situations include buyouts, growth capital investments, and leveraged recapitalizations. Veritas Capital was established in 1992 and is based in New York City.


DEAL STATS #
Overall 22 of 27
Sector (Technology Hardware) 3 of 3
Type (Add-on Acquisition) 11 of 14
State (Alabama) 1 of 1
Country (United States) 22 of 27
Year (2021) 1 of 4
Size (of disclosed) 7 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-08 Cubic

San Diego, California, United States

Cubic is a provider of transportation technology solutions that support the operational needs of the most complex transit systems globally. The Company also provides highly engineered training solutions as well as specialized hardware and software offerings that improve operational readiness and support mission communication and intelligence gathering and analysis. Cubic was formed in 1949 and is based in San Diego, California.

Buy $2.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-06 Alion

McLean, Virginia, United States

Alion provides engineering, information technology, naval architecture, and operational solutions for defense, civilian government, foreign governments, and commercial industries in the United States and internationally. Alion was founded in 2001 and is based in McLean, Virginia.

Sell $1.7B