AMETEK acquires SPECTRO Analytical.

Paoli, PA 6/13/05; Kleve, Germany 6/14/05--AMETEK has acquired SPECTRO Beteiligungs GmbH, the holding company of SPECTRO Analytical Instruments GmbH & Co. KG, for approximately 80 million [euro] ($98 million) from a group led by German Equity Partners BV. With annual sales of around 85 million [euro] ($104 million) and over 22,000 instruments shipped, SPECTRO designs and manufacturers atomic spectroscopy instruments, including energy dispersive x-ray fluorescence, inductively coupled plasma optical emission spectrometry and arc/spark systems. "SPECTRO is a highly differentiated business, which significantly expands our elemental analysis capabilities, bringing new technologies and market opportunities to AMETEK. With this acquisition, our high-end analytical businesses now total nearly $375 million in annual revenue," said AMETEK Chairman and CEO Frank S. Hermance. SPECTRO will join AMETEK's Electronic Instruments.

The addition of SPECTRO will nicely complement AMETEK's growing instrument portfolio, especially for x-ray products. SPECTRO also brings some online techniques to AMETEK, including sulfur analysis instrumentation. Based on the price paid, AMETEK drove a hard bargain, perhaps made easier by the difficult business climate SPECTRO was encountering in Europe, especially in Germany.