Ametek to sell Reading Alloys to Kymera International
January 8, 2020
Kymera International, a speciality materials company headquartered in Raleigh, North Carolina, USA, has entered into a definitive agreement with Ametek, Inc., Berwyn, Pennsylvania, USA, to acquire its Reading Alloys business, a provider of highly engineered materials for mission-critical applications in the aerospace, defence, medical and industrial markets.
Founded in 1953, and acquired by Ametek in 2008, Reading Alloys designs, develops and produces master alloys, thermal barrier coatings and titanium powders. The business is a preferred supplier for producers of high-quality titanium and super alloy mill products that are used in aerospace and aircraft applications.
Kymera has been owned by affiliates of Palladium Equity Partners, LLC, New York, New York, USA, (Palladium), a middle-market private equity firm with approximately $3 billion in assets under management, since 2018. The transaction is expected to close in the first quarter of 2020. The terms were not disclosed.
“Reading Alloys is an outstanding company with highly skilled people and an excellent product and endmarket portfolio that we believe fits in perfectly with our existing business,” stated Barton White, CEO of Kymera International. “For Kymera, we believe this is a transformative acquisition that will give our combined company strong technical and commercial resources to help fuel our growth in the aerospace, defence, medical and industrial markets.”
Adam Shebitz, Managing Director of Palladium, commented, “The acquisition of Reading Alloys, Kymera’s second to date, is right on strategy as the Kymera management team continues to build the company into a leading speciality materials producer. Kymera represents another great example of Palladium’s value creation framework, which pulls on both organic and M&A driven levers. We are excited about this opportunity to enhance the Kymera platform with Reading’s value-added products, growing end-markets and its talented employees.”