Measurement Specialties Acquires FGPFebruary 3, 2009
The purchase extends Measurement Specialties' position in the aerospace and automotive test and measurement markets.
HAMPTON, VA /GLOBE NEWSWIRE/ -- Measurement Specialties Inc. (MEAS), a global designer and manufacturer of sensors and sensor-based systems, announced the acquisition of GS Sensors Group, a holding company for FGP Instrumentation and ALS (FGP). Located in Les Clayes sous Bois and Vernouillet, France, FGP is a leading designer/manufacturer of pressure, acceleration, and force sensors for demanding applications. MEAS acquired the outstanding capital stock of FGP for approximately €5.6 million in cash, plus an additional €1.4 million if certain performance thresholds are achieved. The transaction closed January 30.
Frank Guidone, company CEO, commented, "FGP has been a friendly competitor in the high-end test and measurement market for many years. With their operation located a stone's throw from our existing facility in Les Clayes sous Bois, the combination provides many operational and strategic synergies. The acquisition of FGP adds much needed sales and engineering resources to our European team, focused on the aerospace and automotive test and measurement markets. Additionally, their effort in developing custom force sensors for fly by wire applications dovetails with our efforts in the aerospace market. On an annualized basis, we expect the transaction will add approximately €7 million in sales."
FGP founder Francis Gibert commented, "We were very impressed by MEAS' understanding of our end-user and aerospace program business, and we're convinced that the combined companies will become the supplier of choice for high-end transducer applications."
Dr. Sean Gough, FGP President, added, "It is clear that the combination of FGP's capabilities in transducer and applications engineering with Measurement Specialties' renowned excellence in manufacturing will allow FGP to further strengthen its position as a leader in sensor solutions for demanding applications."
Measurement Specialties Inc. designs and manufactures sensors and sensor-based systems to measure precise ranges of physical characteristics, such as pressure, temperature, position, force, vibration, humidity, and photo optics. MEAS uses multiple advanced technologies—including piezoresistive, electro-optic, electro-magnetic, capacitive, application-specific integrated circuits, micro-electromechanical systems, piezoelectric polymers, and strain gauges—to engineer sensors that operate precisely and cost effectively.
Established in 1975, FGP Instrumentation is a leader in demanding pressure, acceleration, and force sensor applications within the end-user test and measurement market, as well as custom force applications within the aerospace market.
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