Ametek acquires power management system and UPS provider
Ametek Inc. has acquired Powervar, a provider of power management systems and uninterruptible power supply systems, for approximately $128 million.
Ametek Inc. has acquired Powervar, a provider of power management systems and uninterruptible power supply (UPS) systems, for approximately $128 million. Headquartered in Waukegan, IL, the privately held company has annual sales of approximately $70 million, Ametek said.
Powervar's transformer-based power conditioners and UPS systems serve a wide range of end markets, including medical, life sciences, industrial, retail and telecommunications. Its products feature a unique isolation transformer technology that is key to providing quality power and protection.
Powervar has its manufacturing operations in Waukegan, Ill., and sales and service offices in Canada, Germany, Mexico and the United Kingdom. It joins Ametek as part of its Electronic Instruments Group (EIG), a provider of advanced monitoring, testing, calibrating, and display instruments with 2012 sales of $1.9 billion.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey