UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report: July 28, 2016
(Date of earliest event reported)
IDEX CORPORATION
(Exact name of registrant as specified in its charter)
Delaware | 1-10235 | 36-3555336 | ||
(State or other jurisdiction | (Commission File Number) | (IRS Employer | ||
of incorporation) | Identification No.) | |||
1925 W. Field Court
Lake Forest, Illinois 60045
(Address of principal executive offices, including zip code)
(847) 498-7070
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |
Item 8.01 - Other Events.
On July 28, 2016, IDEX Corporation (the “Company”) announced that it has entered into a definitive agreement to acquire SFC Koenig AG (“SFC”), a global leader in the manufacturing of metal-to-metal seal and flow control solutions serving a variety of industries, for cash consideration based on an enterprise value of approximately $240 million (€217 million), subject to customary post-closing adjustments. With its wide product range of bore diameters and pressure ranges, SFC is a solution provider for the transportation, hydraulics, aerospace and medical industries. SFC, headquartered in Dietikon, Switzerland, has annual revenues of approximately $63 million (€57 million) and will operate within our Health & Science Technologies segment.
A copy of the press release relating to the transaction is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 - Financial Statements and Exhibits.
(d) | Exhibits |
99.1 | Press release, dated July 28, 2016 | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
IDEX CORPORATION | |||
Date: July 28, 2016 | By: | /s/ HEATH A. MITTS | |
Heath A. Mitts | |||
Senior Vice President and Chief Financial Officer | |||
EXHIBIT INDEX
EXHIBIT NO | DESCRIPTION | ||
99.1 | Press release, dated July 28, 2016 | ||
Exhibit 99.1
IDEX Corporation to Acquire SFC Koenig AG
LAKE FOREST, IL-(BUSINESS WIRE) - July 28, 2016 - IDEX Corporation (NYSE:IEX) announced today that it has entered into a definitive agreement to acquire SFC KOENIG AG (“SFC KOENIG”), a global leader in the manufacturing of metal-to-metal seal and flow control solutions serving a variety of industries, for cash consideration based on an enterprise value of €217 million, subject to customary post-closing adjustments. SFC KOENIG, headquartered in Dietikon, Switzerland, produces highly engineered expanders and check valves for critical applications across the transportation, hydraulic, aviation and medical markets.
With additional locations in Germany, the United States and China, SFC KOENIG will operate as a part of the sealing solutions platform within IDEX’s Health and Science Technologies segment. The transaction is expected to close in approximately 30 to 45 days, subject to regulatory approvals and customary closing conditions.
Commenting on the transaction, IDEX Chairman and Chief Executive Officer Andy Silvernail stated, “SFC KOENIG’s highly engineered content and deep customer relationships are an excellent fit with the IDEX operating model, and the acquisition of SFC aligns nicely with our strategic initiative to pursue acquisition opportunities in the highly engineered sealing solutions space. We look forward to having SFC KOENIG become part of the IDEX sealing solutions platform.”
About IDEX
IDEX Corporation is an applied solutions company specializing in fluid and metering technologies, health and science technologies, and fire, safety and other diversified products built to its customers’ exacting specifications. IDEX has annual revenues in excess of $2 billion 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”.
Contacts:
IDEX Corporation
Heath A. Mitts, 847-498-7070
Senior Vice President - Chief Financial Officer