Atlas Copco to acquire cryostat maker
25 August 2022
Atlas Copco has agreed to buy U.S.-based Montana Instruments Corporation, which provides cryostat services for customers involved in physics research and low temperature technologies. Terms of the acquisition and the price were not revealed.
Montana Instruments Corporation is a privately held company with 38 employees, located in Bozeman, Montana, USA. In 2021, the company had revenues of approximately $12 million (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 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.