Ametek Acquires Drake Air
Acquisition Further Expands Presence in Aerospace Aftermarket
Contact: Jim McKinley (610) 889-5234
PAOLI, PA - AMETEK, Inc. has acquired Drake Air, a Tulsa, OK-based provider of heat-transfer repair services to the commercial aerospace industry. The privately held Drake Air has expected annual sales of $15 million.
“The acquisition of Drake Air represents a further expansion of AMETEK’s growing presence in the global aerospace maintenance, repair and overhaul services (MRO) industry. This acquisition, coupled with AMETEK’s recent acquisitions of Umeco Repair and Overhaul, Southern Aeroparts and B&S Aircraft Parts expands our global MRO platform,” notes AMETEK Chairman and Chief Executive Officer Frank Hermance.
“Drake Air extends our MRO capabilities to the thermal management segment of the aerospace market by providing FAA-approved repair services for these products. Drake Air complements our line of Hughes-Treitler heat exchangers and thermal management subsystems, providing new growth opportunities,” adds Mr. Hermance.
Drake Air joins AMETEK’s global MRO network as a unit of AMETEK Aerospace & Defense. Along with MRO services, AMETEK Aerospace & Defense is a leading supplier of engine and aircraft monitoring systems, power generation and distribution systems, data acquisition units, fuel and fluid measurement systems, engine and airframe sensors, cables, harness assemblies, avionics blowers, fans, and heat transfer and cooling systems.
AMETEK Aerospace & Defense is a division of AMETEK, Inc. (NYSE: AME), a leading global manufacturer of electronic instruments and electromechanical devices with 2007 sales of more than $2.1 billion.
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