Power Management Provider SurgeX Acquired by Ametek for $130M
ESP/SurgeX, the No. 5 power-protection brand among CE Pro 100 dealers, is acquired by $4 billion electronics manufacturer.
ESP/SurgeX, a popular maker of intelligent power conditioning and protection products for the pro A/V and home-technology channels, has been acquired by Ametek (NYSE: AME), a $4 billion (revenue) manufacturer of electronic instruments and electro-mechanical devices.
SurgeX has become a popular brand among home systems integrators, used by 9% of CE Pro 100 dealers – in fifth place behind Panamax, WattBox (SnapAV), Furman and APC.
The company makes a number of power-related products including pro-worthy surge protectors, power sequencers, power conditioners, energy management solutions and complete remote-diagnostic and -management systems.
Integrators can monitor their customers’ power quality in real-time via the cloud, and troubleshoot equipment issues from afar, often fixing problems without a truck roll.
Products are sold in the home-technology channel via independent reps, and they are distributed by AVAD.
ESP/SurgeX, which has annual sales of roughly $40 million, was acquired for approximately $130 million.
"ESP is an excellent acquisition and a great strategic fit with our existing power protection platform," says Ametek CEO Frank Hermance. "The business is a leader in a highly differentiated niche market with industry-leading products and technologies that provide us with further opportunities to accelerate product innovation and market expansion worldwide."
With manufacturing operations in Knightdale, N.C., ESP/SurgeX joins AMETEK as part of the Power Systems and Instruments Division of its Electronic Instruments Group (EIG).
Ametek also announced the acquisition of Brookfield Engineering, provider of industrial instruments for quality control.
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Julie Jacobson is founding editor of CE Pro, the leading media brand for the home-technology channel. She has covered the smart-home industry since 1994, long before there was much of an Internet, let alone an Internet of things. Currently she studies, speaks, writes and rabble-rouses in the areas of home automation, security, networked A/V, wellness-related technology, biophilic design, and the business of home technology. Julie majored in Economics at the University of Michigan, spent a year abroad at Cambridge University, and earned an MBA from the University of Texas at Austin. She is a recipient of the annual CTA TechHome Leadership Award, and a CEDIA Fellows honoree. A washed-up Ultimate Frisbee player, Julie currently resides in San Antonio, Texas and sometimes St. Paul, Minn. Follow on Twitter: @juliejacobson Email Julie at email@example.com
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