mynth
10/2019

GATAN acquired by AMETEK

UNITED STATES Industrial Equipment / Special Machinery / Lab & Scientific Equipment EV $500M–1.5bn

Context

The acquisition of Gatan marks a definitive technical reinforcement of the group’s presence in the global analytical instrumentation market. The strategic rationale for this transaction centers on a "portfolio-integration" play, merging the target's industry-leading electron microscopy technologies with the group’s extensive Electronic Instruments Group (EIG) infrastructure. This fusion effectively creates a specialized powerhouse in the high-end research sector, providing the organization with the proprietary cameras, energy filters, and software required to support the world’s most sophisticated laboratory workflows.

GATAN, which reported an EBITDA margin of [members only] in 2018, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, representing a premium to the average currently observed in the Industry & Manufacturing sector (11.7x).

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Target

Gatan operates as a premier technology organization dedicated to the engineering and manufacturing of high-precision instrumentation and software for electron microscopy. The entity’s business model is centered on a proprietary framework of hardware and software solutions that enhance the performance of all major brands of electron microscopes. Its value proposition is anchored in technical operational depth, providing advanced tools for specimen preparation, manipulation, and direct-detection imaging that allow researchers to resolve structural biology and materials science challenges at the atomic level. Strategically, the firm focuses on the mission-critical needs of industrial, governmental, and academic laboratories, ensuring that scientists have access to the most high-fidelity data acquisition systems available. By maintaining a specialized focus on the entire microscopy workflow, the organization facilitates the structural advancement of metallurgy, semiconductor diagnostics, and biotechnology research. The entity prioritizes technical innovation and industrialized reliability to enable revolutionary insights into the microscopic world.

Ent. Value

$500M–1.5bn

Equity Value

[members only]

Multiples

EV / Revenue

4x–10x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (USD)

Year
Rev
EBITDA
EBIT
2018
$100–200M
$50–100M
[members only]
2017
$100–200M
$50–100M
[members only]

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REFERENCES

Valuation range: EV $500M–1.5bn

Revenue range: $100–200M

EBITDA range: $50–100M

EV/Revenue range: 4x - 10x

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of GATAN by AMETEK are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Acquirer: ametek