AMETEK Completes $5.0 Billion Indicor Instrumentation Acquisition
The industrial-technology company said the deal adds about $1.1 billion of sales and a roughly 50% aftermarket mix, with businesses folded into Electronic Instruments and Electromechanical groups.
AMETEK, Inc. (AME) completed its acquisition of Indicor Instrumentation, a portfolio of instrumentation businesses that design and manufacture mission-critical solutions for industrial and scientific applications, in an all-cash transaction valued at approximately $5.0 billion.
The industrial-technology company said the businesses generate about $1.1 billion in annual sales and that profitability is consistent with AMETEK’s. Products serve end markets that align with AMETEK’s existing portfolio and produce a substantial base of recurring revenue from consumables, services, and aftermarket support.
Following closing, the acquired businesses will be integrated into AMETEK’s Electronic Instruments Group (EIG) and Electromechanical Group (EMG) based on product offerings and market alignment. The portfolio spans sample preparation, remote monitoring for utilities, laboratory and process analytical instruments, actuation, food-processing safety controls, materials-analysis instruments, process-control instrumentation, gas-turbine sensing, in-line inspection for food and beverage, and precision flow measurement.
AMETEK said the transaction represents about 14 times EBITDA and that it plans to fund the purchase through borrowings under its existing credit facility and new debt issuance. Expected leverage at closing was about 2.3 times. The company also cited year-one cash earnings accretion, strong returns on capital, and annualized synergies of 10% to 12% of sales.
“Indicor is an exceptional fit for AMETEK,” said David A. Zapico, AMETEK Chairman and Chief Executive Officer. “In a single transaction, we are adding a high-quality group of businesses with differentiated technologies, strong market positions, and attractive growth prospects. We see meaningful potential to create value through integration into AMETEK’s operating model.”
The deal was subject to customary closing conditions, including applicable regulatory approvals, and was expected to close in the second half of 2026. AMETEK, a global provider of industrial technology solutions with annual sales of about $7.5 billion, said the acquisition fits its mission-critical niche-market strategy and adds a balanced geographic mix.
The company said end-market exposure after the deal includes medical, aerospace and defense, power, research, semiconductor, oil and gas, food and beverage, and general industrial markets. About 50% of Indicor Instrumentation’s revenue is recurring aftermarket revenue, reinforced by intellectual property and embedded customer relationships.
AMETEK said the businesses will be integrated under its Growth Model, which pairs operational excellence, technology innovation, global and market expansion, and strategic acquisitions with a focus on cash generation and capital deployment. The company said the acquisition is expected to create shareholder value through scale, diversification, and the stated synergy range.