The acquisition is transformational in scale and strategically aligned. Monitor regulatory approval process and any integration updates. The stock may re-rate on accretion and synergy realization.
Price Chart
Executive Summary
AMETEK announced a definitive agreement to acquire Indicor Instrumentation for $5.0 billion in cash, adding approximately $1.1 billion in annual sales with high recurring revenue and profitability consistent with AMETEK. The acquisition is expected to close in H2 2026, be accretive to cash earnings in year one, and generate annualized synergies of 10% to 12% of sales.
Key Facts
- Acquisition of Indicor Instrumentation for $5.0 billion in cash.
- Indicor Instrumentation generates approximately $1.1 billion in annual sales.
- Expected to close in the second half of 2026.
- Funded through credit facility borrowings and new debt issuance, pro forma leverage ~2.3x.
- Purchase price represents ~14x EBITDA.
- Expected to be cash earnings accretive in year one.
- Annualized cost synergies estimated at 10% to 12% of sales.
- Businesses to be integrated into EIG and EMG segments.
- Recurring aftermarket revenue ~50% of total sales.
Financial Impact
$5.0 billion cash consideration, ~14x EBITDA, annual sales ~$1.1B, synergies 10-12% of sales
Risk Factors
- Regulatory approval delays or conditions.
- Integration risks and failure to achieve projected synergies.
- Higher leverage (~2.3x) could pressure credit metrics if earnings fall short.
- Potential dilution if debt is refinanced with equity.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001037868-26-000146 |
| Exhibit: exhibit-991projectivy5626.htm | 0001037868-26-000146 |
| Document: projectivy_irdeckfinal.htm | 0001037868-26-000146 |
| Document: 0001037868-26-000146-index-headers.html | 0001037868-26-000146 |
| Document: 0001037868-26-000146-index.html | 0001037868-26-000146 |
| Document: 0001037868-26-000146.txt | 0001037868-26-000146 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 26, 2026 5w ago | 8-K | $243.67 $247.74 | ▲ +1.67% | ▲ +2.18% | $253.10 (+3.87%) |
Aug 26, 2026 5w ago | Press Release | $243.67 $247.74 | ▲ +1.67% | ▲ +2.18% | $253.10 (+3.87%) |
Aug 12, 2026 7w ago | Insider Cluster | $258.52 $234.24 | ▼ −9.39% | ▼ −7.49% | $253.10 (−2.10%) |
Aug 11, 2026 7w ago | 8-K | $256.30 $236.27 | ▼ −7.82% | ▼ −6.76% | $253.10 (−1.25%) |
Aug 7, 2026 8w ago | Press Release | $253.66 $237.72 | ▼ −6.28% | ▼ −5.89% | $253.10 (−0.22%) |
Aug 4, 2026 8w ago | 8-K | $254.05 $231.32 | ▼ −8.95% | ▼ −7.71% | $253.10 (−0.37%) |
Jul 24, 2026 10w ago | Institutional Cluster | $241.97 $239.55 | ▼ −1.00% | ▼ −4.63% | $253.10 (+4.60%) |
Jul 16, 2026 11w ago | Press Release | $237.30 $256.22 | ▲ +7.97% | ▲ +4.36% | $253.10 (+6.66%) |
Jun 15, 2026 15w ago | Court Ruling | $230.45 $232.10 | ▲ +0.72% | ▲ +1.47% | $253.10 (+9.83%) |
Jun 12, 2026 15w ago | 8-K | $227.12 $233.98 | ▲ +3.02% | ▲ +1.24% | $253.10 (+11.44%) |
US Market Status
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