NORWALK,
Conn., April 19, 2022 /PRNewswire/ -- Arcline
Investment Management ("Arcline") today announced an agreement to
acquire Omega Engineering Inc. ("Omega" or the "Company") from
Spectris plc (LSE: SXS) in a transaction that values the Company at
$525 million. Omega is a leading
provider of sensing, control, and monitoring technologies and will
be joining the Dwyer Group of companies ("Dwyer"), an Arcline
portfolio company. The transaction is expected to close in the
third quarter of 2022.
Founded in 1962, Omega is an established global leader in the
technical marketplace, offering more than 100,000 state-of-the-art
products for measurement and control of temperature, humidity,
pressure, strain, force, flow, level, pH, and conductivity. Omega
also offers a complete line of data acquisition, heating, and
custom-engineered products. Omega's business is fully integrated,
with in-house design and engineering, manufacturing, and
distribution capabilities facilitating made-to-order products at
attractive lead times, positioning the Company as a technology
partner of choice to process engineers worldwide.
"Omega is a tremendous addition to the Dwyer Group of companies,
bringing a highly respected brand and a broad, world-class product
portfolio," said Chuck Dubois, CEO of Dwyer. "Dwyer and Omega
offer complementary sensing and instrumentation products with a
similar value proposition, meeting customers' unique needs with
high-quality, configured products. The businesses together offer an
unmatched breadth of products and technical expertise, which we
believe will provide significant value to our customers and
partners. We are excited to work with the Omega team to drive
growth in the combined businesses."
"I am confident this is an excellent move for Omega. Dwyer has a
strong position in most of our key markets through its highly
complementary portfolio of sensing, monitoring, and control
products and solutions," said Amit Agarwal, President of
Omega. "Having spent time with key members of the Dwyer and
Arcline leadership teams during the transaction process, I believe
that we share similar cultures and values and that the acquisition
represents a great opportunity for all stakeholders."
EC M&A served as financial advisor to Arcline.
About Dwyer Instruments
The Dwyer Group of companies
consists of a series of companies and brands, including Dwyer
Instruments, Love Controls, Mercoid, WE Anderson, Proximity, and
UFM. Dwyer is a global leader in the design and manufacture of
innovative sensors and instrumentation solutions for the IEQ,
building automation, process, and environmental markets. Founded in
1931, Dwyer Instruments is headquartered in Michigan City,
Indiana, and has additional
offices in Asia, Europe, and Australia. To learn
more about Dwyer Instruments, visit www.dwyer-inst.com.
About Arcline Investment Management
Arcline Investment
Management is a growth-oriented private equity firm with
$4.4 billion in cumulative capital
commitments. Arcline seeks to invest in technology-driven,
meaningful to the world industrial businesses that enable a better
future. For more information visit www.arcline.com.
Contact Information:
contact@arcline.com
www.arcline.com
Contact (For Press Inquiries Only):
Tim Ragones
Joele Frank, Wilkinson Brimmer
Katcher
(212) 355–4449
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SOURCE Arcline Investment Management