FEI Buys ASPEX Corporation
News Mar 01, 2012
FEI has announced that it has acquired ASPEX Corporation of Delmont, PA.
ASPEX provides rugged scanning electron microscopes (SEMs) and related services for environmentally demanding military, industrial and factory floor applications.
“The ASPEX EXtreme™ SEM is an integral part of our QEMSCAN® WellSite™ solution for on-site oil and gas solutions,” noted Don Kania, president and CEO of FEI.
Kania continued, “With this acquisition, FEI now owns the essential hardware and software that has been part of our rapid growth and expanding potential in the Natural Resources business. In addition, ASPEX has a solid track record of applications in a range of industrial markets, including metals, industrial automation, defense, health sciences and forensics.”
“Combining with FEI gives us resources, technology and market access to build on our success to date,” commented Gregory Ott, president and chief operating officer of ASPEX.
Ott continued, “In addition to helping to develop the company’s Natural Resources opportunity, we believe FEI’s technology strength and global reach will help us to expand further in the other markets we serve.”
The purchase price for the acquisition is $30.5 million. Revenue for ASPEX totaled $10.0 million, and the company was profitable for the fiscal year ended June 30, 2011.
Revenue has grown at a compound annual rate of 24% since 2006.