AMETEK, Inc. (NYSE: AME) announced that it has completed the acquisition of Rauland-Borg Corporation, a provider of mission critical communication solutions for hospitals, healthcare systems and educational facilities.
Rauland-Borg was acquired for $340 million, plus a potential contingent payment of $30 million tied to the achievement of certain milestones. The company has annual revenues of approximately $160 million.
“Rauland-Borg is an outstanding company and we are excited about the acquisition. It is a recognized leader in healthcare and education communication solutions with premier product and brand name recognition,” comments David A. Zapico, AMETEK Chief Executive Officer.
“Rauland provides AMETEK with an attractive new growth segment within the medical technology market. In addition to their strong growth opportunities in its core markets, we see incremental growth opportunities through acquisitions and international expansion,” adds Mr. Zapico.
Rauland-Borg was privately held with an 88-year history. It is headquartered and has manufacturing operations in Mount Prospect, IL. It joins AMETEK as part of its Electronic Instruments Group (EIG) -- a leader in advanced analytical, monitoring, testing, calibrating and display instruments with annual sales of $2.4 billion.
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