AMETEK Acquires Creaform

AMETEK, Inc. (NYSE: AME) has announced its USD$120million acquisition of Creaform, Inc., a company that develops and manufactures innovative portable 3D technologies, and provides 3D engineering services. Creaform is an industry leader in stand-alone portable 3D scanners. These optical devices are used in a growing number of applications to create accurate 3D models and measurements of a wide range of objects. The privately held company has reported annual sales of $52 million.

Creaform products include handheld 3D scanners, portable coordinate measuring machines and accessories widely used in 3D printing, as well as reverse engineering, dimensional inspection, precision manufacturing, non-destructive testing and automated quality control.

Frank S. Hermance, AMETEK’s Chairman and CEO said: “Creaform’s innovative, optically-based product line and excellent customer base will expand our metrology sales into attractive segments closely adjacent to those of our existing Taylor Hobson and Solartron Metrology businesses,” he added. “Creaform is an outstanding acquisition. It has an impressive R&D base and an industry-leading position across a number of high growth market applications. Creaform significantly expands the range of non-contact metrology products offered by our Ultra Precision Technology business.”

Creaform has its headquarters and manufacturing operations in Lévis, Québec in Canada. It operates innovation centres in Lévis and Grenoble, France, and has direct sales operations in six countries. It joins AMETEK as part of its Electronic Instruments Group (EIG), which had 2012 sales of $1.9 billion. The Handyscan 3D, a handheld laser scanner used to perform non-contact measurement, leads the market in capability and portability.

AMETEK is a leading global manufacturer of electronic instruments and electro-mechanical devices with annualised sales of $3.6 billion. AMETEK’s objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. The common stock of AMETEK is a component of the S&P 500 Index.