UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
| Date of Report (Date of Earliest Event Reported): | December 4, 2013 |
AMETEK, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
| Delaware | 1-12981 | 14-1682544 |
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_____________________ (State or other jurisdiction |
_____________ (Commission |
______________ (I.R.S. Employer |
| of incorporation) | File Number) | Identification No.) |
| 1100 Cassatt Road, Berwyn, Pennsylvania | 19312 | |
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_________________________________ (Address of principal executive offices) |
___________ (Zip Code) |
| Registrant’s telephone number, including area code: | 610-647-2121 |
Not Applicable
______________________________________________
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
On December 4, 2013, AMETEK, Inc. issued a press release to announce it has acquired Powervar. A copy of such press release is attached as Exhibit 99.1. The information contained in said press release is hereby incorporated by reference in this Form 8-K.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AMETEK, Inc. | ||||
| December 4, 2013 | By: |
/s/ William J. Burke
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| Name: William J. Burke | ||||
| Title: Senior Vice President - Comptroller & Treasurer | ||||
Exhibit Index
| Exhibit No. | Description | |
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99.1
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Copy of press release issued by AMETEK, Inc. on December 4, 2013. |
Exhibit 99.1
CORPORATE OFFICE
1100 Cassatt Road, Berwyn, PA 19312
Contact: Kevin C. Coleman (610) 889-5247
AMETEK ACQUIRES POWERVAR
—Leading Provider of Power Management and Uninterruptible Power Systems—
Berwyn, PA, December 4, 2013 — AMETEK, Inc. (NYSE: AME) today announced that it 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.
Corporate Profile
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.
—MORE—
AMETEK ACQUIRES POWERVAR
Page 2
Forward-looking Information
Statements in this news release relating to future events, such as AMETEK’s expected business and
financial performance are “forward-looking statements.” Forward-looking statements are subject to
various factors and uncertainties that may cause actual results to differ significantly from
expectations. These factors and uncertainties include AMETEK’s ability to consummate and
successfully integrate future acquisitions; risks associated with international sales and
operations; AMETEK’s ability to successfully develop new products, open new facilities or transfer
product lines; the price and availability of raw materials; compliance with government regulations,
including environmental regulations; changes in the competitive environment or the effects of
competition in our markets; the ability to maintain adequate liquidity and financing sources; and
general economic conditions affecting the industries we serve. A detailed discussion of these and
other factors that may affect our future results is contained in AMETEK’s filings with the U.S.
Securities and Exchange Commission, including its most recent reports on Form 10-K, 10-Q and 8-K.
AMETEK disclaims any intention or obligation to update or revise any forward-looking statements.
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