AMETEK, Inc. (NYSE: AME) today announced that it has completed its acquisition of Paragon Medical, a leading provider of highly engineered medical components and instruments, from affiliates of American Securities LLC, in an all-cash transaction valued at approximately $1.9 billion.

“We are excited to welcome the Paragon team to AMETEK,” said David A. Zapico, AMETEK Chairman and Chief Executive Officer. “Paragon’s outstanding capabilities and market leadership align seamlessly with AMETEK’s commitment to delivering high-performance solutions, further broadening our presence in the attractive MedTech industry.”

Paragon Medical serves a wide range of specialty applications including orthopedics, minimally invasive surgery, robotic surgery, and drug delivery. Paragon’s product portfolio includes single-use and consumable surgical instruments and implantable components sold to a diverse blue-chip customer base of leading medical device manufacturers.

With annual sales of approximately $500 million, Paragon joins AMETEK as part of its Electromechanical Group (EMG), a differentiated supplier of thermal management, automation and engineered solutions.

Source: Company Press Release