Lincoln International Represents Industrial Growth Partners in the Sale of Atlas Material Testing Technology LLC to AMETEK, Inc.
CHICAGO, November 9, 2010 – Lincoln International, a leading global mid-market investment bank, today announced that Atlas Material Testing Technology LLC (“Atlas” or the “Company”) has been sold to AMETEK, Inc. (NYSE: AME). Atlas was a portfolio company of Industrial Growth Partners (“IGP”), a private equity investment firm based in San Francisco, California. Lincoln International acted as the exclusive financial advisor to Atlas and worked closely with IGP and Atlas’ senior management team throughout the sale of the Company to AMETEK.
Headquartered in Chicago, Illinois, with additional manufacturing operations in Germany and a network of outdoor and laboratory testing facilities worldwide, Atlas is the world’s leading provider of weathering test instruments and related testing and consulting services. The Company’s instruments test the effects of weathering by simulating exposure to sunlight, temperature, moisture and corrosion. Atlas’ products include weather exposure test systems, corrosion-testing instruments, specialty lighting systems, and large-scale weathering test chambers. In addition, Atlas offers such services as indoor laboratory and outdoor testing, photovoltaic and solar testing, and consulting. The Company’s customers include testing laboratories and leading solar/photovoltaic, automotive, military and aerospace, chemical, plastic, pharmaceutical, coating, cosmetic, building material, food and beverage, printing and textile companies.
Atlas joins AMETEK as part of AMETEK Measurement & Calibration Technologies, a division of AMETEK’s Electronic Instruments Group – a recognized leader in advanced monitoring, testing, calibrating and display instruments with expected 2010 sales of approximately $1.3 billion. “Atlas is an excellent addition to AMETEK. It is the clear global leader in this niche market and enjoys an excellent reputation with its customers and international standards setting organizations. Atlas provides us with another growth platform in the highly attractive materials testing equipment market and broadens our presence in the fast-growing photovoltaic testing market,” notes Frank S. Hermance, AMETEK Chairman and Chief Executive Officer.
The sale of Atlas builds on Lincoln International’s strong industrial sector experience, particularly within the test and measurement segment. Lincoln’s Industrial Group is an integrated, international team of M&A professionals that has extensive experience assisting companies that provide highly-engineered, critical components and systems to the global industrial markets. Having completed over 100 transactions in the past three years, Lincoln International is one of the most active advisors worldwide in the industrial sector.
About Industrial Growth Partners
Industrial Growth Partners is an $825 million private equity firm that provides equity capital to privately held, lower-middle market manufacturing and manufacturing services companies. IGP is one of very few investment firms in the U.S. that focuses exclusively on the manufacturing sector. The firm invests equity in a wide range of transactions involving a change of ownership, such as management buyouts, leveraged buyouts, corporate divestitures, recapitalizations and management buy-ins. More information about IGP can be obtained at www.igpequity.com
About AMETEK, Inc.
AMETEK is a leading global manufacturer of electronic instruments and electro-mechanical devices with annualized sales of $2.5 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 MidCap 400 and the Russell 1000 Indices. More information about AMETEK, Inc. can be obtained at www.ametek.com
About Lincoln International
Lincoln International specializes in merger and acquisition advisory services, private capital raising, and restructuring advice on mid-market transactions. Lincoln International also provides fairness opinions, valuations and pension advisory services on a wide range of transaction sizes. With 10 offices in Asia, Europe and North America, and strategic partnerships with leading institutions in China and India, Lincoln International has strong local knowledge and contacts in the key global economies. The organization provides clients with senior-level attention, in-depth industry expertise and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest. More information about Lincoln International can be obtained at www.lincolninternational.com.
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