Page 6 - 2019 AMETEK Annual Report FINAL

4 Letter to Shareholders

Total Return to Shareholders

$700

$600

$500
$400

$300

$200
$100

$0
12/09 12/10 12/11 12/12 12/13 12/14 12/15 12/16 12/17 12/18 12/19

AMETEK, Inc. S&P 500 S&P Industrials

The chart compares the performance of $100 invested in AMETEK, Inc., against the S&P 500 and S&P Industrials on
12/31/2009, including reinvestment of dividends. The 10-year CAGR for AMETEK’s total return to shareholders is 20%.

Strategic Acquisitions electron microscopes. The company is
We remain focused on expanding our a pioneer in direct detection technology
portfolio of innovative, differentiated for electron microscopy, supporting
technology solutions through strategic cutting-edge research to solve some of
acquisitions. In 2019, we deployed a the world’s most complex challenges in
near-record $1.1 billion on two excellent materials and life sciences.
new businesses.
Already in 2020, we have acquired
Our first acquisition was Pacific Design IntelliPower, a leading provider of high-
Technologies (PDT), a leading provider reliability, ruggedized uninterruptible
of advanced, mission-critical thermal power systems serving a wide range
management solutions. PDT, which of defense and industrial applications.
complements our existing thermal man- As a highly complementary fit with
agement systems business, designs our Power Systems and Instruments
and manufactures a complete range of Division, IntelliPower’s solutions protect
custom-engineered liquid cooling sys- mission-critical applications by utilizing
tems and components. PDT’s solutions high-efficiency, power-switching
are used in a broad set of current and technology which can be remotely
next-generation commercial aerospace, monitored and managed.
defense and space platforms.
Looking ahead, we will remain active
The second acquisition, Gatan, adds in identifying and pursuing strategic
nicely to our existing portfolio of acquisitions. In addition to a strong
high-end, analytical instrumentation balance sheet, we generate excellent
businesses. Gatan is a leading cash flows which we will continue to
manufacturer of instrumentation and deploy on acquisitions. Our acquisition
software used to enhance and extend process is proven and disciplined, driv-
the operation and performance of ing strong returns for our shareholders.