Danaher buying Raytek for $75 million
Washington, D.C.— Danaher Corp . announced Aug. 23 that it has agreed to purchase Raytek Corp. for approximately $75 million. The transaction is expected to close shortly, after some required approvals are secured. Danaher expects the acquisition to be neutral to its 2002 earnings per share.
With more than $50 million in revenues for 2001, Raytek will become a part of Danaher's Electronic Test and Measurement platform. Raytek is reported to be the leading U.S. producer of non-contact infrared thermometers for industrial, maintenance, and quality control applications where temperature is a critical parameter. Raytek manufactures hand-held portable infrared thermometers, as well as fixed-mount thermometers, line scanners and sensors, which it sells in more than 60 countries worldwide.
'Raytek is known as a global leader in portable non-contact infrared tools worldwide, and is an excellent extension of Danaher's market leadership,' says H. Lawrence Culp, Jr., Danaher's president and ceo. 'The Fluke and Raytek brands represent technical leadership in handheld digital diagnostic tools, and are driven to serve end-users with the best products and application support. The combination of Fluke and Raytek will increase our ability to reach and serve global customers through superior selling, support and distribution capabilities.'
Control Engineering Daily News Desk
Jim Montague, news editor