acquired ultra-precision machining systems manufacturer Precitech from a group led by
American Capital Strategies
for about $13 million in cash.
''It makes an outstanding addition to our high-end analytical instruments platform and is an excellent fit with our Taylor Hobson business," the Paoli, Pa.-based company said. "Precitech designs and manufactures ultra-precise single-point and multi-axis diamond turning machining systems for applications requiring nano-metric levels of accuracy. Its acquisition broadens our product offering for rapidly growing nanotechnology applications.''
Shares of Ametek were trading up 16 cents, or 0.4%, at $46.27 Monday.
This story was created through a joint venture between TheStreet.com and IRIS.