M&A Deal Summary

AMETEK Acquires Virtek

On October 31, 2024, AMETEK acquired machinery company Virtek from American Industrial Partners

Acquisition Highlights
  • This is AMETEK’s 5th transaction in the Machinery sector.
  • This is AMETEK’s 3rd transaction in Canada.
  • This is AMETEK’s 2nd transaction in Ontario.

M&A Deal Summary
Date 2024-10-31
Target Virtek
Sector Machinery
Buyer(s) AMETEK
Sellers(s) American Industrial Partners
Deal Type Add-on Acquisition

Target

Virtek

Waterloo, Ontario, Canada
Virtek provides vision and laser projection solutions primarily for the aerospace, construction, and industrial end markets. The company’s proprietary laser projection systems enable customers to maximize productivity and reduce human error by providing visual guides for assembly, construction, inspection, and paint tasks. Virtek was founded in 1986 and is based in Waterloo, Ontario.

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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 72 of 72
Sector (Machinery) 5 of 5
Type (Add-on Acquisition) 65 of 65
State (Ontario) 2 of 2
Country (Canada) 3 of 3
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-06 UEI

Norwood, Massachusetts, United States

UEI is a provider in the design and manufacture of high-performance test, measurement, simulation and control solutions that enable customers to build smart, reliable, flexible and rugged systems. The company's products are used in a variety of mission-critical applications, including flight simulation and training, machine health and usage monitoring, and automated testing. UEI was founded in 1990 and is based in Norwood, Massachusetts.

Buy -

Seller(S) 1

SELLER

American Industrial Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

American Industrial Partners is a private equity firm focused on investments in North American manufacturing or industrial service companies. For platform acquisitions, the Firm seeks businesses with at least $500 million of revenue and the Firm will consider transactions valued up to $2 billion. Operating characteristics of prospective businesses include historical record of strong free cash flows, opportunities to drive value through operating enhancements, and sustainable competitive advantages. American Industrial Partners will consider a variety of transaction types including leveraged buyouts, structured equity investments, bridge financings, senior debt, carve-outs, take privates, turnarounds, and rescue financings. American Industrial Partners was formed in 1989 and is based in New York City.

DEAL STATS #
Overall 25 of 25
Sector (Machinery) 7 of 7
Type (Add-on Acquisition) 7 of 7
State (Ontario) 1 of 1
Country (Canada) 2 of 2
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-17 PPG - Architectural coatings business

Pittsburgh, Pennsylvania, United States

PPG's Architectural coatings business is a producer of interior and exterior paints, stains, caulks, repair products, adhesives, and sealants for homeowners and professionals, as well as certain light-duty protective coatings products, in the United States and Canada. PPG's Architectural coatings business is based in Pittsburgh, Pennsylvania.

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