Ametek, Inc. says it has acquired ESP/SurgeX, a supplier of energy intelligence and power protection solutions. ESP/SurgeX provides on-site and remote power protection products used by industries to lower service costs and ensure reliable electric power to critical equipment. Its patented technology is widely used by the business equipment, imaging, audio visual, information technology, gaming and vending industries. ESP’s product portfolio includes surge elimination solutions, multi-stage power protection products, energy management solutions, and remote diagnostic and predictive capabilities.
“ESP is an excellent acquisition and a great strategic fit with our existing power protection platform,” notes Frank S. Hermance, Ametek Chairman and Chief Executive Officer. “The business is a leader in a highly differentiated niche market with industry-leading products and technologies that provide us with further opportunities to accelerate product innovation and market expansion worldwide.”
ESP/SurgeX, has annual sales of approximately $40 million and was acquired for approximately $130 million. With manufacturing operations in Knightdale, NC, ESP/SurgeX joins AMETEK as part of the Power Systems and Instruments Division of its Electronic Instruments Group (EIG).
Ametek is a manufacturer of electronic instruments and electro-mechanical devices with annual sales of $4.0 billion.