American Industrial Partners Finalizes Virtek Vision Sale to AMETEK
Deal News | Nov 04, 2024 | Ropes & Gray
American Industrial Partners (AIP) has completed the sale of its portfolio company, Virtek Vision International, to AMETEK, a prominent player in industrial technology solutions. The transaction was announced through a press release issued on October 31. While the financial specifics of the deal have not been disclosed, it marks a strategic acquisition for AMETEK, integrating Virtek into its Electronic Instruments Group known for its innovation in analytical and monitoring instrumentation. AIP, managing approximately $16 billion in assets, is renowned for its specialization in industrial businesses, encompassing sectors like aerospace, automotive, and industrial technology. Virtek Vision is esteemed for its expertise in 3D laser-based projection and AI-driven quality inspection technologies. The acquisition supports AMETEK's mission of expanding its technological capabilities and market share in industrial solutions.
Sectors
- Industrial Technology
- Private Equity
Geography
- United States – The article discusses the sale of a company facilitated by American Industrial Partners, a US-based private equity firm, and acquired by AMETEK, a US-based company.
Industry
- Industrial Technology – This sector is represented by AMETEK and Virtek Vision, both providing technological solutions designed to improve industrial processes through innovative technologies.
- Private Equity – American Industrial Partners, the selling entity, is a private equity firm focusing on investment in industrial businesses across a range of sectors.
Financials
- Not Disclosed – The financial terms of the sale of Virtek Vision International to AMETEK were not disclosed.
- $16 billion – Total assets under management by American Industrial Partners.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| American Industrial Partners | Seller | Company | A private equity firm with $16 billion in AUM specializing in industrial sector investments. |
| Virtek Vision International | Target | Company | A global leader in 3D laser-based projection and AI-powered inspection systems. |
| AMETEK | Buyer | Company | A global provider of industrial technology solutions listed on NYSE. |
| Ropes & Gray | Legal Advisor | Company | Ropes & Gray served as the legal advisor to American Industrial Partners in this transaction. |