AMETEK Inc. on July 1 announced that it has acquired Haydon Enterprises, a leading manufacturer of high-precision motion control products, from the Harbour Group, a private, St. Louis-based operating company, for approximately $270 million in cash. The acquisition of Haydon Enterprises is expected to add approximately $0.05 per diluted share to 2010 earnings and approximately $0.13 per diluted share to earnings in AMETEK's first year of ownership.
Headquartered in Waterbury, Conn., with additional manufacturing operations in Hollis and Milford, New Hampshire, and Changzhou, China, Haydon is a leader in linear actuators and lead screw assemblies for the medical, industrial equipment, aerospace, analytical instrument, computer peripheral and semiconductor industries with estimated annual sales of approximately $85 million.
"Haydon is an outstanding addition to AMETEK," notes Frank S. Hermance, AMETEK chairman and chief executive officer. "Haydon's product line complements our highly differentiated technical motor business, which shares common markets, customers and distribution channels, and places AMETEK in a unique position as the premiere industry provider of high-end linear and rotary motion control solutions."
Haydon joins AMETEK's Electromechanical Group, a differentiated supplier of electrical interconnects, specialty metals, technical motors and systems, floor care motors and specialty motors with 2009 sales of $952 million.
AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with 2009 sales of $2.1 billion. AMETEK's corporate growth plan is based on four key strategies: Operational Excellence, Strategic Acquisitions & Alliances, Global & Market Expansion and New Products.
