M&A Deal Summary

AMETEK Acquires Controls Southeast

On August 7, 2013, AMETEK acquired machinery company Controls Southeast from Industrial Growth Partners for 160M USD

Acquisition Highlights
  • This is AMETEK’s 3rd transaction in the Machinery sector.
  • This is AMETEK’s 17th largest (disclosed) transaction.
  • This is AMETEK’s 35th transaction in the United States.
  • This is AMETEK’s 1st transaction in North Carolina.

M&A Deal Summary

Date 2013-08-07
Target Controls Southeast
Sector Machinery
Buyer(s) AMETEK
Sellers(s) Industrial Growth Partners
Deal Type Add-on Acquisition
Deal Value 160M USD

Target

Controls Southeast

Pineville, North Carolina, United States
Controls Southeast, Inc. is a provider of bolt-on heating systems for piping, tanks, valves and instrumentation, as well as jacketed piping systems and full-service system engineering and design, field consulting and installation support for a broad range of critical industrial processes.

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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 40 of 72
Sector (Machinery) 3 of 5
Type (Add-on Acquisition) 35 of 65
State (North Carolina) 1 of 2
Country (United States) 35 of 59
Year (2013) 3 of 5
Size (of disclosed) 17 of 37
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-02 Sunpower

Athens, Ohio, United States

Sunpower designs and develops high reliability cryocoolers and externally heated Stirling cycle engines. Its cryocoolers are used to lower temperatures below -150 degrees C without the use of expensive liquid nitrogen, while its heat engines are used in micro co-generation (heat and power) devices.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-29 Creaform

Levis, Quebec, Canada

Creaform is a world-class and innovative technological company offering 3D digital solutions. Creaform combines every 3D process and technology with innovative solutions that can cover the entire range of 3D needs: 3D scanning, reverse engineering, inspection, styling, design, analysis, digital manufacturing and medical applications.

Buy $120M

Seller(S) 1

SELLER

Industrial Growth Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 3.4B USD
Size Large
Type Sector Focused
DESCRIPTION

Industrial Growth Partners (IGP) is a private equity firm that invests in privately held, lower middle-market manufacturing and manufacturing services companies. Specific areas of interest include industrial components and equipment, electrical and electronic equipment, process instrumentation and controls, analytical instruments and measuring devices, filtration and pumps, specialty chemicals, plastics, and healthcare/safety equipment. Prospective transaction situations include management buyouts, leveraged buyouts, corporate divestitures, recapitalizations, management buy-ins, and growth capital financings. Target companies typically are profitable and have annual revenues up to $250 million. IGP was formed in 1997 and is based in San Francisco, California.


DEAL STATS #
Overall 16 of 34
Sector (Machinery) 2 of 5
Type (Add-on Acquisition) 6 of 18
State (North Carolina) 1 of 1
Country (United States) 16 of 33
Year (2013) 1 of 1
Size (of disclosed) 9 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-21 Xaloy

New Castle, Pennsylvania, United States

Xaloy is the manufacturer of plastification units and components. These components are used in plastic injection molding and extrusion processing machinery sold to original equipment manufacturers and in the aftermarket to plastic processors.

Sell $200M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-06 Climax Portable Machine Tools

Newberg, Oregon, United States

Climax Portable Machine Tools is a supplier of portable machine tools and related products serving the shipbuilding, power generation, service and engineering sectors. Climax Portable Machine Tools was founded in 1966 and is based in Newberg, Oregon.

Buy -