Teledyne Expands Business, Acquires PDM Neptec (UK)
Teledyne Technologies Incorporated announced that its subsidiary, Teledyne Limited, has acquired the parent company of PDM Neptec Limited (“PDM Neptec”). PDM Neptec, located in Hampshire, United Kingdom, provides underwater cables, fiber optic and electrical subsea connectors and custom engineering solutions.
The acquired company will now operate under the name Teledyne Impulse-PDM Ltd. Terms of the transaction were not disclosed.
“The thirteenth acquisition in our Teledyne Marine group, PDM Neptec further expands our line of harsh-environment marine interconnects provided by Teledyne,” said Robert Mehrabian, chairman, president and chief executive officer of Teledyne. “In addition, PDM Neptec adds additional engineering talent and strengthens our international sales channels.”
“With the acquisition of PDM Neptec, a two decade project of Peter Dennis, Teledyne is able to leverage PDM Neptec to develop further its European footprint. The transaction is a natural development for PDM Neptec, positive for employees, the local community, customers and suppliers,” said Susannah Dennis. “Finally, as a founder of the company, I am pleased to see PDM Neptec’s name live on, in its new incarnation as Teledyne Impulse-PDM.”
Teledyne Technologies is a leading provider of sophisticated instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems. Teledyne Technologies’ operations are primarily located in the United States, Canada, the United Kingdom and Mexico. For more information, visit Teledyne Technologies’ website at www.teledyne.com.
Press Release, August 06, 2012; Image: PDM Neptec Limited