Worth the Price

Ametek adds Mocon for $182 million

Ametek, Inc. has added a diverse, but potentially pivotal, business to its portfolio in Mocon…and the $4 billion electromechanical devices conglomerate felt a heightened bid was worth the price for it.

Founded in 1963, Minneapolis-based Mocon makes laboratory and field gas analysis instruments for research laboratories, production facilities and quality control departments with food and beverage, pharmaceutical, and industrial applications. It reported $63 million in sales this past year.

The sale price was nearly 40 percent higher than Mocon’s recent stock market price. This is “a significant value for our shareholders,” Mocon CEO Robert L. Demorest said in a statement. It is also a record high for the company, which went public in 1985.

“[Mocon is] the global leader in gas analysis instrumentation for package and permeation testing. Its products and technologies nicely complement our existing gas analysis instrumentation business and provides us with opportunities to expand into the growing food and pharmaceutical package testing market,” said Ametek CEO David A. Zapico, in a statement. Ametek is based in Berwyn, Pennsylvania (Editor’s shout out).

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