Reading time ( words)
AMETEK, Inc. today announced that it has completed the sale of its Reading Alloys business to Kymera International, a leading specialty materials company that is owned by affiliates of Palladium Equity Partners, LLC.
"This transaction completes our recent strategic portfolio review process and further strengthens our already strong balance sheet, which supports our capital deployment efforts," said David A. Zapico, AMETEK Chairman and Chief Executive Officer. "We wish Reading Alloys continued success and thank the team for their tremendous efforts through this process."
Based in Robesonia, Pennsylvania, Reading Alloys has annual sales of approximately $160 million and was sold for $250 million in an all-cash transaction.