Atlas Copco to acquire a US based cryostat manufacturer
August 24, 2022
Nacka, Sweden, August 24 2022: Atlas Copco has agreed to acquire Montana Instruments Corporation. The company provides cryostat solutions for customers involved in physics research and low temperature technology solutions.
Montana Instruments Corporation is a privately owned company with 38 employees, located in Bozeman, Montana, USA. In 2021, the company had revenues of approximately MUSD 12 (MSEK 106*).
A cryostat is a system used to cool an object to very low temperature and enable measurement of various properties. The Montana Instrument cryostats can attain temperatures down to 4 Kelvin (minus 269 Celsius or minus 425 Fahrenheit) without the use of liquid cryogens. The cryostats are typically used to observe and characterize quantum physics in cold materials.
“The acquisition will allow us to further extend our existing presence in the cryogenic markets and with our R&D customers,” said Geert Follens, Business Area President Vacuum Technique. “It also provides an additional channel into quantum technology related markets where commercial applications are starting to grow.”
The purchase price is not disclosed. The acquisition is subject to regulatory approval and is expected to close during the fourth quarter of 2022.
The company will become part of the Scientific Vacuum Division within the Vacuum Technique Business Area.
*Based on the average exchange rate in 2021.
For more information please contact:
- Daniel Althoff, Vice President Investor Relations
+46 76 899 9597
[email protected]
- Amanda Billner, Media Relations Manager
+46 73 58 25 670
[email protected]
Atlas Copco Group
Great ideas accelerate innovation. At Atlas Copco we have been turning industrial ideas into business-critical benefits since 1873. By listening to our customers and knowing their needs, we deliver value and innovate with the future in mind. In 2021, Atlas Copco had revenues of BSEK111 and at year end about 43 000 employees.