IDEX Corporation to Acquire SFC KOENIG AG
July 28 2016 - 02:00AM
Business Wire
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”.
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IDEX CorporationHeath A. MittsSenior Vice President –Chief
Financial Officer847.498.7070
IDEX (NYSE:IEX)
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