AMETEK Acquires Global Tubes
This acquisition moves Fine Tubes and Superior Tube into the AMETEK Electromechanical Group.
Posted: May 13, 2015
AMETEK, Inc. (Berwyn, PA) has acquired Global Tubes (Watermill Group; Lexington, MA), a leading manufacturer of high-precision, small-diameter metal tubing, for approximately $200 million. The business has annual sales of approximately $120 million and is comprised of two companies: Fine Tubes Ltd. (Plymouth, UK), and Superior Tube Company, Inc. (Collegeville, PA).
Global Tubes manufactures highly customized metal tubing from a wide variety of metals and alloys, including stainless steel, nickel, zirconium and titanium. Its products are used in highly engineered applications serving the aerospace, energy, power generation and medical markets.
“This is an excellent acquisition for us and a great strategic fit with our Specialty Metal Products business. It has strong positions in a number of attractive niche markets for high-precision, small-diameter metal tubing used across a wide range of highly engineered applications,” commented Frank S. Hermance, the chairman and chief executive officer of AMETEK.
“Their metallurgical capabilities, processing capabilities and alloy ranges are complementary to our existing Specialty Metal Products businesses and give us the opportunity to expand our offerings both internationally and in attractive growth markets,” added Hermance.
Global Tubes joins the company as part of its Electromechanical Group (EMG), a differentiated supplier of electrical interconnects, precision motion control solutions, medical components, specialty metals, thermal management systems, and floor care and specialty motors.
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