Who Owns FARO Company?

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Who Owns FARO Technologies Now?

FARO Technologies, Inc. has undergone a significant ownership change. On July 21, 2025, AMETEK, Inc. successfully completed its acquisition of FARO, following shareholder approval. This event marks a new chapter for the 3D measurement and imaging solutions provider.

This acquisition means that AMETEK, Inc. now holds the controlling interest in FARO Technologies, impacting its future strategic direction and operations.

Before its acquisition, FARO Technologies was a publicly traded entity. As of February 20, 2025, the company had 18,981,676 shares of common stock outstanding. The company's offerings include solutions like the FARO BCG Matrix, utilized across various industries for precise data capture and analysis.

FARO Technologies, Inc. began its journey in 1981 as 'Res-Tech,' established by biomedical engineering doctoral candidates Simon Raab and Greg Fraser from McGill University. Their initial focus was on developing software-driven devices for medical applications, launching their first product, a knee laxity measurement device, in 1984.

Founding Visionaries

Simon Raab, with a background in physics and engineering physics, and Greg Fraser, an expert in mechanical engineering, laid the groundwork for the company. Their combined expertise fueled the initial innovation in medical technology.

Company Evolution

By 1983, the company was renamed FARO Technologies Inc., with Simon Raab taking the helm as CEO. The name FARO, derived from 'Frasier and Raab Orthopedics' and the Greek word for lighthouse, symbolized their commitment to guiding innovation.

Strategic Shift

In 1992, the company reincorporated in Florida and pivoted its focus towards manufacturing and industrial markets. This strategic move broadened the company's scope beyond its initial medical applications.

Early Divestment

A private placement in November 2003 saw the co-founders sell approximately 20% of their holdings. This indicated an early divestment, though the founders maintained their commitment to the company's success.

Public Offering

The company's growth culminated in its initial public offering (IPO) in 1997. This marked a significant milestone, making FARO Technologies publicly traded and accessible to a wider range of FARO company shareholders.

Geographic Relocation

The company's headquarters moved from Quebec, Canada, to Florida, USA, in 1990. This relocation preceded the company's reincorporation in Florida and its strategic shift in market focus.

The early ownership structure of FARO Technologies Inc. was primarily held by its founders, Simon Raab and Greg Fraser, who established the company with a vision for precision technology. While specific initial share percentages are not publicly detailed, their significant stake was evident through later transactions. The company's transition from a privately held entity to a publicly traded one through its 1997 IPO fundamentally altered its ownership landscape, opening the door for broader FARO Technologies investors and FARO Technologies stock holders. Understanding the history of FARO Technologies ownership provides crucial context for analyzing its current shareholder base and the influence of its leadership.

Key Milestones in Early Ownership

The founding of FARO Technologies in 1981 by Simon Raab and Greg Fraser marked the beginning of its ownership journey. The company's name change to FARO Technologies Inc. in 1983 and its subsequent IPO in 1997 were pivotal moments that shaped its ownership structure.

• Founding as 'Res-Tech' in 1981 by Simon Raab and Greg Fraser.
• Renaming to FARO Technologies Inc. in 1983.
• Relocation of headquarters to Florida, USA, in 1990.
• Reincorporation in Florida in 1992.
• Initial Public Offering (IPO) in 1997.
• Founders' divestment of approximately 20% of their holdings in November 2003.

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FARO Technologies, Inc. transitioned to a publicly traded company in September 1997, allowing for a wider base of ownership. This evolution saw significant stakes held by institutional investors prior to its acquisition.

The ownership structure of FARO Technologies saw a significant shift with the acquisition by AMETEK, Inc. This move transitioned FARO from a publicly traded entity to a wholly-owned subsidiary, impacting its shareholder base and governance.

Key Ownership Details for FARO Technologies

FARO Technologies' ownership evolved significantly over time, culminating in its acquisition. Understanding these changes is crucial for tracking the company's trajectory.

• FARO Technologies became publicly traded on the Nasdaq National Market in September 1997.
• As of July 18, 2025, the stock price was $43.99 per share.
• Institutional investors held approximately 97.88% of the stock as of March 2025.
• AMETEK, Inc. acquired FARO Technologies for approximately $920 million, with the deal closing on July 21, 2025.
• This acquisition means FARO Technologies is no longer a publicly traded company.

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As of the 2025 Annual Meeting of Shareholders, FARO Technologies, Inc. was governed by a Board of Directors consisting of seven members. This board included both executive and independent directors, tasked with overseeing the company’s strategic direction and operations.

The voting power for FARO Technologies' common stock operated on a one-share-one-vote basis. Shareholders of record as of March 21, 2025, were eligible to vote at the 2025 Annual Meeting. Directors were elected by a plurality of votes cast. The board played a crucial role in strategic decisions, notably unanimously approving the merger agreement with AMETEK, Inc., which was subsequently approved by shareholders and completed on July 21, 2025. This acquisition marked a significant shift in the company's ownership structure, underscoring the board's influence and the collective shareholder vote in determining the company's future direction, aligning with the company's Mission, Vision & Core Values of FARO.

Board of Directors' Role in Strategic Decisions

The Board of Directors is instrumental in guiding a company's strategic path. For FARO Technologies, this was evident in their unanimous recommendation for the merger with AMETEK.

• Determining the advisability and fairness of merger agreements.
• Recommending shareholder approval for significant transactions.
• Ensuring alignment with shareholder interests.
• Overseeing executive compensation and company performance.

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FARO Technologies, Inc. has undergone significant transformations in its leadership and ownership structure over the past few years. These changes culminated in a major acquisition that has reshaped its corporate identity.

Prior to its acquisition, FARO Technologies maintained a strong institutional ownership base. As of March 2025, institutional investors collectively controlled approximately 97.88% of the company's shares, with insider ownership at 1.98%. Prominent institutional shareholders included BlackRock, Inc., The Vanguard Group, Inc., and T. Rowe Price Group, Inc. The most impactful recent development for FARO Technologies ownership is its acquisition by AMETEK, Inc., announced in May 2025 and finalized in July 2025. This transaction transitioned FARO from a publicly traded entity to a private subsidiary, integrating it into AMETEK's Ultra Precision Technologies division.

Leadership Evolution

Recent years saw significant leadership changes, including a new CEO and key executive appointments, preparing the company for future growth.

Major Acquisition by AMETEK

In July 2025, AMETEK acquired FARO Technologies for approximately $920 million, marking a substantial shift in its ownership structure.

Dominant Institutional Ownership Pre-Acquisition

Before the acquisition, institutional investors held the vast majority of FARO's shares, indicating significant backing from large financial entities.

Strategic Integration Post-Acquisition

FARO is now part of AMETEK's Ultra Precision Technologies division, aiming to leverage synergies for enhanced market presence in 3D metrology.

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