Leading provider of power management and uninterruptible power systems.
AMETEK, Inc. has acquired Powervar, a leading provider of power management systems and Uninterruptible Power Supply (UPS) systems, for approximately $128 million. Headquartered in Waukegan, IL, the privately held company has annual sales of approximately $70 million.
Powervar provides highly engineered and customized products designed to deliver reliable, high-quality power to critical applications. It offers an industry-leading product line and a broad range of UL and IEC certified products. Its transformer-based power conditioners and UPS systems serve a wide range of end markets, including medical, life sciences, industrial, retail and telecommunications. Its products feature a unique isolation transformer technology that is key to providing quality power and protection.
“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) -- a recognized leader in advanced monitoring, testing, calibrating, and display instruments with 2012 sales of $1.9 billion.
AMETEK is a leading global manufacturer of electronic instruments and electro-mechanical devices with annualized sales of $3.6 billion. AMETEK’s Corporate Growth Plan is based on Four Key Strategies: Operational Excellence, Strategic Acquisitions & Alliances, Global & Market Expansion and New Products. AMETEK’s objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. The common stock of AMETEK is a component of the S&P 500 Index.