AMETEK Buys Privately-held Powervar For About $128 Mln - Quick Facts

(RTTNews) - AMETEK, Inc. (AME), Wednesday said it acquired privately-held Powervar, for about $128 million. Powervar, a provider of power management systems and UPS systems, joins AMETEK as part of its Electronic Instruments Group, whose sales totaled $1.9 billion in 2012.

With nearly $70 million annual sales, Powervar is headquartered in Waukegan with its manufacturing operations, while its sales and service offices are in Canada, Germany, Mexico and the United Kingdom. AMETEK is a global manufacturer of electronic instruments and electro-mechanical devices with annualized sales of $3.6 billion.