Ametek acquires Global Tubes
Berwyn, Pa.-based AMETEK recently acquired Global Tubes, a manufacturer of high-precision small-diameter metal tubing, for about $200 million. AMETEK noted Global Tubes has annual sales of about $120 million. Global Tubes is comprised of two businesses: United Kingdom-based Fine Tubes and Collegeville, Pa.-based Superior Tube.
Global Tubes manufactures highly customized metal tubing from a wide variety of metals and alloys, including stainless steel, nickel, zirconium and titanium. Its products are used in highly engineered applications serving the aerospace, energy, power generation and medical markets.
“Global Tubes is an excellent acquisition and a great strategic fit with our Specialty Metal Products business,” AMETEK Chairman and CEO Frank Hermance said. “It has strong positions in a number of attractive niche markets for high-precision, small-diameter metal tubing used across a wide range of highly engineered applications.”