Enpro To Acquire Advanced Micro Instruments For $210 Million Cash
(RTTNews) - Industrial technology company Enpro Inc. (NPO) announced Thursday that it has entered into a definitive agreement to acquire Advanced Micro Instruments, Inc. or AMI, for $210 million in cash.
Based in Costa Mesa, California, AMI serves customers in the midstream natural gas, biogas, industrial processing, cryogenics, food processing, laboratory, wastewater and aerospace markets.
The company offers a portfolio of oxygen, hydrogen sulfide and moisture analyzers and proprietary sensing capabilities that detect contaminants in a variety of processes, including natural gas and biogas streams, which enable operators to avoid flaring and, thereby, reduce CO2 emissions.
Upon closing, AMI will be included in the Sealing Technologies segment, adding to the segment's portfolio of products and solutions that safeguard critical environments.
The acquisition is expected to be accretive to segment revenue growth and profitability, in addition to Enpro's adjusted diluted earnings per share.
The transaction is expected to close in early 2024, subject to limited closing conditions, including regulatory approvals.
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