Amid an uncertain future for the industry, industrial products-focused Teledyne Technologies Inc. is forging ahead.
Teledyne Technologies, a Thousand Oaks-based digital imaging company, announced in early July it completed its acquisition of Maretron. Teledyne acquired Maretron and its slew of products from Littelfuse Inc.
Maretron, which builds monitoring and control systems for vessels like boats, will be used to boost Teledyne’s Raymarine division for marine electronics. Maretron is Teledyne’s eleventh transaction involving a corporate carve-out, and the second to be completed in 2025.
“One of our strategic pillars is to provide customers with the best integration options in the industry, and Maretron strengthens our offering to the market,” Grégoire Outters, the vice president and general manager of Teledyne FLIR Maritime and Raymarine, said in a statement. “By incorporating Maretron’s award-winning products into the Raymarine portfolio, we will create a better experience for our customers.”
The acquisition will allow Raymarine to access Maretron’s host of products like Octoplex, MPower and MConnect as well as Maretron’s Florida office location, further cementing Raymarine’s network in the regional boating market.
Industrials take a hit
Thousand Oaks has long been home to companies in the manufacturing and industrial space – the category makes up 25% of all companies headquartered there, according to PitchBook.
Teledyne’s hand in industrial markets spans aerospace and military technology, marine and environmental instrumentation, digital imaging for the medical field and engineered systems. The company’s core market involves highly specialized, custom-made solutions that are not easily produced at scale – which often means going deep into the supply chain to collect raw materials, molds and other goods.
“There’s a similarity to what we experienced in 2021 and 2022 where we had to cough up a lot of money to brokers because of scarcity of materials, especially electronic components,” Robert Mehrabian, Teledyne’s executive chairman, said during the company’s first earnings call in 2025.
The industrial market has taken a hit ever since President Donald Trump announced sweeping tariffs and budget changes, in part because industrial products are in virtually everything. The economic shift has been seen in Teledyne’s earnings – marine instruments rose due to offshore energy and subsea defense sales. Environmental instruments fell 2% due to the dwindling popularity of emissions monitoring instruments. Though Teledyne said it is bracing for the impact tariffs will have on the company, it has remained relatively safe from the increasingly expensive global supply chain.
“We participate in space programs, both science space, which is pretty big for us, and we also participate in defense space,” Mehrabain said. “In the defense space, which is about 60% of our overall space programs, we think there’s going to be growth from all of these activities…”
Indeed, 80% of company sales are domestic – they’re either sold by Teledyne’s U.S.-based locations to U.S.-based customers or sold by Teledyne’s international locations to international customers. The company only exports 16% of its sales internationally, and only 2% to China.
“Teledyne has never believed that offshoring U.S. manufacturing and technology was a wise action,” Mehrabian said. “As a result, we have little low-cost country manufacturing, we are a net exporter, and most of our external sales are produced and sold within regions.”
