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.