Electronic instrument manufacturer AMETEK, Inc. is to acquire gas equipment manufacturer MOCON, Inc. citing “tremendous synergy” and “long-term benefits.”
Under the definitive merger agreement, AMETEK will acquire all of the outstanding shares of common stock of MOCON.
The aggregate enterprise value of the transaction is approximately $182m. The deal was unanimously approved by MOCON’s Board of Directors.
Founded in 1963 and headquartered in Minnesota, US, MOCON is a well-established provider of laboratory and field gas analysis instrumentation for industrial, food and beverage and pharmaceutical applications. It generated sales of around $63m last year.
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