Ametek Inc. (NYSE: AME) is set to buy Watermill Group portfolio company Global Tubes, a manufacturer of precision metal tubing, for $200 million. (See our video with Watermill Group's John Carr below.) The Berwyn, Pennsylvania-based buyer, which was an especially active acquirer in 2014, is known for making electronic instruments and devices. The purchase of Global Tubes expands Ametek's high-precision metal tubing manufacturing capabilities. Global Tubes will be folded into Ametek's electromechanical group, a supplier of specialty metals and thermal management systems. The company was formed in 2012 after Watermill purchased, and later merged, two different businesses: Devon, U.K.-based Fine Tubes Ltd. and Collegeville, Pennsylvania-based Superior Tube Company Inc. The Lexington, Massachusetts-based firm also streamlined Global Tubes' operations, increased production capacity and upgraded equipment. Ametek had contacted Watermill before an auction even began, according to managing director Steve Karol. "It was a direct negotiation with no intermediary," he adds. Law firm Goodwin Procter LLP provided legal counsel with a team led by partner James Lee. The sale was announced on the heels of Watermill's acquisition of Mountain Molding, which was valued at around $10 million. The Longmont, Colorado-based company will be added to portfolio company Tenere Inc., a provider of metal and plastic components. "Tenere has been doing extremely well since we bought it," Karol says. "It's in a pretty good cash position and was able to do the deal out of pocket." Tenere is currently looking at two other M&A opportunities, he adds. For more on the manufacturing sector, see Manufacturing Deals Reassemble 5 Significant Sectors.