On 6 May 2026, Berwyn, Pennsylvania-based AMETEK Inc. announced the sale of 10 instrumentation businesses from CD&R-backed Indicor for US$5.0 billion. The deal includes five digital water companies: Technolog, Ovarro, Aquam, Orbis, and Metrix. It is valued at 14 times its Earnings Before Interest, Taxes, Depreciation, and Amortization multiple, based on US$1.1 billion in revenue, and represents AMETEK’s largest single acquisition.
The Indicor companies offer leak detection, remote monitoring, and network sensing capabilities with applications outside the plant-based measurement and process control applications that have so far defined AMETEK’s water related portfolio. Indicor augmented its Water Infrastructure Group by adding Ovarro in September 2024, followed by Aquam and Orbis in December. The group is anchored by Technolog, which Indicor acquired in 2022.
AMETEK, which reported total sales of US$7.4 billion for 2025, is a global manufacturer of electronic instruments and electromechanical devices serving aerospace, defense, medical, and industrial markets. Since 2021, AMETEK has completed 15 acquisitions across the power, medicine, and transportation industries.
