AMETEK Inc. is selling its Reading Alloys business to Raleigh, North Carolina’s Kymera International.
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 CEO Barton White said in a statement, "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, defense, medical and industrial markets."
Kymera, a specialty materials company, has been owned by affiliates of Palladium Equity Partners LLC, a middle market private equity firm with approximately $3 billion in assets under management, since 2018.
The transaction, the terms of which were not disclosed, is expected to close in the first quarter of 2020. It is subject to customary closing conditions including applicable regulatory approvals.
