Deal Details

Virtek Is Acquired by AMETEK

Industrial

Virtek, a portfolio company of AIP, sale to AMETEK

Summary

Virtek Vision International, Inc. (“Virtek” or the “Company”), a portfolio company of American Industrial Partners (“AIP”), recently announced its sale to AMETEK (NYSE: AME). Terms of the transaction were not disclosed.

Baird served as the exclusive financial advisor to Virtek on this transaction.

About

Virtek specializes in the development and manufacturing of advanced 3D laser projectors, smart cameras and quality control inspection systems, powered by AI-driven software and algorithms. The Company's innovative machine vision solutions provide customers with precise, virtual laser guided measurement and inspection capabilities to help automate complex assembly processes and improve manufacturing efficiencies across a wide range of aerospace, defense and industrial applications. Virtek is headquartered in Waterloo, Ontario.

AIP is an industrials investor with approximately $16 billion in assets under management. AIP is distinctively focused on industrial businesses across a broad range of end markets that include: aerospace and defense, automotive, building products, capital goods, chemicals, industrial services, industrial technology, logistics, metals & mining and transportation, among others. AIP looks to generate differentiated returns by investing in quality industrial businesses with strong management teams and working with those teams to implement comprehensive operating agendas to build long-term value. Current AIP portfolio companies generate aggregate annual revenues of approximately $25 billion and employ approximately 70,000 employees as of June 30, 2024. AIP is headquartered in New York, New York.

AMETEK is a leading global provider of industrial technology solutions serving a diverse set of attractive niche markets with annual sales of approximately $7.0 billion. The AMETEK Growth Model integrates the Four Growth Strategies - Operational Excellence, New Product Development, Global and Market Expansion and Strategic Acquisitions - with a disciplined focus on cash generation and capital deployment. AMETEK's objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. Founded in 1930, AMETEK has been listed on the NYSE for over 90 years and is a component of the S&P 500. AMETEK is headquartered in Berwyn, Pennsylvania.

Industrial

Virtek, a portfolio company of AIP, sale to AMETEK