NORTHBROOK, Ill.--(BUSINESS WIRE)--Oct. 18, 2007--IDEX Corporation
(NYSE: IEX) today announced the acquisition of Isolation Technologies,
a leading developer of advanced column hardware and accessories for
the High Performance Liquid Chromatography (HPLC) market. HPLC
instruments are used in a variety of analytical chemistry
applications, with primary commercial applications including drug
discovery and quality control measurements for pharmaceutical and
food/beverage testing.
Headquartered in Hopedale, MA, Isolation Technologies has annual
revenues of approximately $11 million. Isolation Technologies will be
operated as part of the company's Sapphire Engineering business within
IDEX's Health and Science Technologies segment. The cash consideration
was just under $30 million and is expected to be accretive to IDEX's
earnings in 2008.
Commenting on the acquisition, IDEX Chairman and Chief Executive
Officer Larry Kingsley said, "Isolation Technologies fits IDEX's
growth strategy exceptionally well and is an excellent addition to our
Health and Science Technologies segment. The expansion of our Sapphire
Engineering business will broaden our product offering, enhancing our
ability to meet our customers' needs in the growing, global market for
analytical, biotechnology and diagnostic instrumentation solutions."
Rick Hersom, cofounder and president of Isolation Technologies
stated "IDEX Health and Science's world-wide sales force will allow
new customer access and growth." Cofounder and vice president Michael
Rigoli added "Isolation Technologies' column hardware platforms are a
perfect complement to IDEX's broad HPLC product portfolio."
About IDEX
IDEX Corporation is an applied solutions company specializing in
fluid and metering technologies, health and science technologies,
dispensing equipment, and fire, safety and other diversified products
built to its customers' exacting specifications. Its products are sold
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".
For further information on IDEX Corporation and its business
units, visit the company's Web site at www.idexcorp.com.
CONTACT:
IDEX Corporation
Investor Contact:
Heath Mitts
Vice President - Corporate Finance
(847) 498-7070
SOURCE:
IDEX Corporation
