Navitar Inc. has been acquired by AMETEK Inc., a Pennsylvania-based global manufacturer of electronic instruments and electromechanical devices.
AMETEK – which logged sales of $5.5 billion in 2021 – acquired Rochester-based Navitar, along with Canadian firm RTDS Technologies Inc., for roughly $430 million.
The two firms log annual sales of some $100 million, AMETEK reported.
“These businesses nicely complement our existing capabilities and strategically expand our presence in highly attractive secular growth areas,” said David A. Zapico, AMETEK chairman and CEO, in a statement. “AMETEK continues to strengthen our portfolio through the acquisition of market-leading businesses with innovative, advanced technology solutions.”
Both companies join AMETEK as part of its Electronic Instruments Group.
Navitar is a provider of advanced optical components and solutions for high precision applications across a diverse set of end markets, including medical and life sciences, machine vision and robotics, and industrial automation.
Its products range from high magnification motorized zoom imaging systems to fisheye projection lenses.
Navitar was launched in 1972 as D.O. Industries. Julian and Jeremy Goldstein purchased Navitar in 1994 from their father, David Goldstein.
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