LAKE FOREST, Ill.--(BUSINESS WIRE)--Jul. 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”.
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Source: IDEX Corporation
IDEX Corporation
Heath A. Mitts
Senior Vice President –Chief
Financial Officer
847.498.7070