AMETEK, a leading global provider of industrial technology solutions with annual sales of approximately $7.5 billion, has entered into a definitive agreement to acquire First Aviation Services, a leading provider of highly engineered, mission-critical defense and aviation maintenance, repair, and overhaul services and a manufacturer of related proprietary components. Financial terms were not disclosed beyond First Aviation’s approximately $80 million in annual sales.
First Aviation’s MRO capabilities include advanced electronics, rotor blades and assemblies, propellers, landing gear, and flight controls, alongside designing, engineering, and manufacturing critical parts across a wide range of defense and aviation platforms. The company operates six centers of excellence throughout the United States.
The acquisition strengthens AMETEK’s MRO platform and broadens the scope of its component MRO services, adding proprietary products serving mission-critical applications. The transaction is subject to customary closing conditions including regulatory approvals. AMETEK trades on the NYSE under the ticker AME and has been listed on the exchange for more than 95 years as a component of the S&P 500.
KEY QUOTE:
“First Aviation is a strong strategic fit with our MRO platform, providing attractive market expansion opportunities and broadening the scope of our component MRO services. Their proprietary products and services further broaden our differentiated products serving mission critical applications. We look forward to leveraging our respective operating, engineering and distribution strengths to continue to grow our combined capabilities.”
David A. Zapico, Chairman and Chief Executive Officer, AMETEK
