Ametek acquires Technical Services for Electronics for undisclosed amountBy AP
Tuesday, June 1, 2010
Ametek acquires maker of medical device components
PAOLI, Pa. — Ametek Inc., which makes electric motors, battery chargers and products for aerospace, defense and other industries, said Tuesday it has acquired privately held Technical Services for Electronics for an undisclosed amount.
TSE, which is based in Arlington, Minn., makes engineered interconnect solutions for the medical device industry. Its products are used in ultrasound, neuro-stimulation patient monitoring and other medical applications. Ametek said TSE has annual sales of $50 million.
Ametek bought TSE from Pfingsten Partners LLC, a private equity firm in Chicago. It will become part of Ametek’s Electromechanical Group, which supplies electrical interconnects, specialty metals, technical motors, floor care motors and specialty motors.
Shares of Ametek slipped 39 cents to close at $40.21.
Tags: Health Care Industry, Medical Devices, Medical Technology, North America, Paoli, Pennsylvania, United States