© mariusz-szachowski-dreamstime.com Electronics Production | December 11, 2013
Ametek acquires Powervar
Ametek has acquired Powervar, a provider of power management systems and uninterruptible power supply (UPS) systems, for approximately USD 128 million.
"Powervar is an excellent addition to our power systems and instruments business. Its strong presence in medical and life sciences provides our power businesses with excellent new growth opportunities in these attractive market segments. Its products are highly complementary to our existing power quality and UPS systems. In addition, Powervar provides world-class applications expertise, considerable new product development capability, and best-in-class product quality," notes Frank S. Hermance, Ametek Chairman and Chief Executive Officer. Powervar has its manufacturing operations in Waukegan, IL and sales and service offices in Canada, Germany, Mexico and the United Kingdom. It joins Ametek as part of its Electronic Instruments Group (EIG).