Tennessee-based Arcline Investment Management will acquire Connecticut-based Omega Engineering Inc. from Spectris PLC. Omega, which provides sensing, control, and monitoring technologies, will join the Dwyer Group of companies, which is headquartered in Michigan City.
“Omega is a tremendous addition to the Dwyer Group of companies, bringing a highly respected brand and a broad, world-class product portfolio,” said Chuck Dubois, chief executive officer of Dwyer. “Dwyer and Omega offer complementary sensing and instrumentation products with a similar value proposition, meeting customers’ unique needs with high-quality, configured products. The businesses together offer an unmatched breadth of products and technical expertise, which we believe will provide significant value to our customers and partners.”
Omega designs, engineers, manufactures, and distributes made-to-order products. Omega also provides data acquisition, heating, and custom-engineered products.
“Dwyer has a strong position in most of our key markets through its highly complementary portfolio of sensing, monitoring, and control products and solutions,” said Amit Agarwal, president of Omega. “Having spent time with key members of the Dwyer and Arcline leadership teams during the transaction process, I believe that we share similar cultures and values and that the acquisition represents a great opportunity for all stakeholders.”
The acquisition is expected to be complete in the third quarter. Financial terms of the deal were not disclosed.