By Colin Kellaher
Enpro has struck a deal to buy Advanced Micro Instruments, a provider of application-specific analyzers and sensing technologies, for $210 million in cash.
Enpro on Thursday said the purchase price represents a valuation of about 13-times normalized 2023 earnings before interest, taxes, depreciation and amortization.
Advanced, based in Costa Mesa, Calif., serves customers in the midstream natural-gas, biogas, industrial-processing, cryogenics, food-processing, laboratory, wastewater and aerospace markets, Enpro said.
Charlotte, N.C., industrial-technology company Enpro said it expects to complete the acquisition in early 2024, adding that Advanced will become part of its sealing-technologies segment.
Write to Colin Kellaher at [email protected]
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