AMETEK acquired Powervar for $128 million, a transaction completed in December 2013, structured as Acquisition of privately held company.
Powervar operates in Electronic Instruments Group (EIG), is based in Waukegan, Illinois, United States. AMETEK acquired Powervar, a Waukegan, Illinois-based provider of power management systems and uninterruptible power supply (UPS) systems, for approximately $128 million. The privately held company, with annual sales of roughly $70 million, makes transformer-based power conditioners and UPS systems featuring a proprietary isolation transformer technology, serving medical, life sciences, industrial, retail and telecommunications markets. Powervar has manufacturing in Waukegan and sales and service offices in Canada, Germany, Mexico and the United Kingdom, and joined AMETEK's Electronic Instruments Group.
Strengthens AMETEK's power systems and instruments business, adding a strong presence in medical and life sciences and complementary UPS and power quality products.
Advisory firms were not disclosed for this transaction.