LAKE FOREST, Ill.--(BUSINESS WIRE)--Jun. 10, 2015--
IDEX CORPORATION (NYSE:IEX) announced today the acquisition of
Alfa Valvole, s.r.l., a leader in the design, manufacture and sale of
specialty valve products used in the chemical, petrochemical, energy and
sanitary markets.
Located in Casorezzo, Italy, Alfa has revenues of approximately €30
million and will operate within the IDEX Fluid & Metering Technologies
segment. Alfa was acquired for approximately €102 million and is
expected to be accretive to IDEX earnings in the first full year after
closing.
Commenting on the acquisition, IDEX Chairman and Chief Executive Officer
Andy Silvernail stated, “Alfa is the fifth acquisition in our rapidly
expanding specialty valve platform. The company’s products, technology,
brand and installed customer base are an excellent fit with the IDEX
business model. We look forward to Alfa joining IDEX and we are excited
about our joint global growth prospects going forward.”
About IDEX
IDEX Corporation is an applied solutions company specializing in fluid
and metering technologies, health and science technologies, dispensing
equipment, fire and safety equipment and other diversified products
built to its customers’ exacting specifications. IDEX has annual
revenues in excess of $2 billion annually and sells its products in
niche markets to a wide range of industries throughout the world. IDEX
shares are traded on the New York Stock Exchange and Chicago Stock
Exchange under the symbol “IEX”.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150610006337/en/
Source: IDEX Corporation
IDEX Corporation
Heath A. Mitts, 847-498-7070
Senior Vice
President – Chief Financial Officer