Berwyn, PA and Minneapolis, MN 4/17/17—AMETEK, a manufacturer of electronic instruments and electro-mechanical devices, has signed a definitive merger agreement with MOCON. AMETEK will acquire all outstanding shares of MOCON for $30 per share, or an aggregate value of $182 million. The price represents a 39% premium over MOCON’s April 13 closing share price. MOCON provides lab and field gas analysis instruments, recording 2016 sales of $63 million (see Bottom Line). “They are the global leader in gas analysis instrumentation for package and permeation testing. Its products and technologies nicely complement our existing gas analysis instrumentation business, and provides us with opportunities to expand into the growing food and pharmaceutical package testing market,” stated AMETEK CEO David A. Zapico. The acquisition is expected to close in the late second quarter or in the third quarter.

MOCON’s business is comprised of four divisions: Packaging Testing Products and Services, consisting of headspace analyzers, leak detection equipment and gas mixers; Permeation Products and Services; Microbial Detection Products; and Industrial Analyzer Products and Services, made up of gas analysis and monitoring instruments, including online GCs and total hydrocarbon analyzers. The Industrial Analyzer Products and Services solutions will add to AMETEK Process Instruments’ online analytical instrument products, which include online gas analysis systems.