Ametek buys Chandler Instruments
Paoli, PA—To expand its high-end analytical instrument platform, Ametek Inc. recently purchased Chandler Instruments LLC (Tulsa, OK) for approximately $50 million. Chandler manufactures measurement instrumentation for the oil and gas industry, and expects $30 million in sales for 2003.
Paoli, PA— To expand its high-end analytical instrument platform, Ametek Inc. recently purchased Chandler Instruments LLC (Tulsa, OK) for approximately $50 million. Chandler manufactures measurement instrumentation for the oil and gas industry, and expects $30 million in sales for 2003.
'This acquisition further expands our high-end analytical instrument platform, building on a set of differentiated, higher-growth businesses that now total nearly $180 million in revenue,' says Frank Hermance, Ametek's chairman and CEO. 'Chandler expands Ametek's strong presence in the oil and gas industry into upstream drilling and completion instruments, and extends our product offering in downstream markets, adding new technologies and customers.'
Chandler designs and manufactures products through two operating companies: Chandler Engineering and Austria-based Grabner Instruments. Chandler Engineering focuses on the upstream markets of oil and gas exploration and production, selling to many of the world's leading integrated petroleum and oil services companies. It produces instruments for the drilling and completion market, as well as instrumentation for production enhancement, reservoir development, and pipeline transmission.
Meanwhile, Grabner designs and manufactures test instruments for analyzing fuels and other liquids. Its products include vapor pressure measurement instruments, flash point analyzers and spectrometers. These products are focused on downstream petroleum refining and distribution markets, as well as the fragrance, flavors and paint markets.
Chandler will become part of Ametek's Electronic Instruments Group (EIG), which manufactures advanced monitoring, testing, calibrating and display instruments. It sells its products in the process, aerospace, power, and industrial markets worldwide, and had sales of approximately $540 million in 2002.
Control Engineering Daily News Desk
Jim Montague, news editor