Ametek Agrees to Sell Reading Alloys
Ametek Inc. signed a definitive agreement for the sale of its Reading Alloys business to Kymera International, a specialty materials company owned by affiliates of Palladium Equity Partners. Founded in 1953, Reading Alloys provides highly engineered materials for mission-critical applications in the aerospace, defense, medical and industrial markets. The company’s products include master alloys, thermal-barrier coatings and titanium powders.
According to Kymera International, the acquisition will allow the two companies to combine strong technical and commercial resources to help fuel future growth. The transaction, which is valued at $250 million, is expected to close in the first quarter of 2020.