Summary
IDEX Corporation, based in Northbrook, Illinois, is a publicly traded company engaged in the development, design, and manufacture of fluidics systems, optics systems, fire and rescue equipment, and other specialty engineered products.
 | |
| Company type | Public company |
|---|---|
| Industry | Manufacturing |
| Predecessor | Houdaille Industries |
| Founded | 1988 |
| Headquarters | Northbrook, Illinois, U.S. |
Key people | Eric D. Ashleman, Chief Executive Officer and Abhi Khandelwal, Chief Financial Officer |
| Products | fluidics systems, hydraulic rescue tools |
| Revenue |  US$3.18 billion (2022) |
| US$751 million (2022) | |
| US$587 million (2022) | |
| Total assets | US$5.51 billion (2022) |
| Total equity | US$3.04 billion (2022) |
Number of employees | 8,868 (2022) |
| Subsidiaries |
|
| Website | idexcorp |
| Footnotes / references [1] | |
History edit
IDEX was formed in 1988, when Kohlberg Kravis Roberts purchased several divisions of Houdaille Industries, which had recently been sold by KKR to Tube Instruments. Its first chairman and CEO was Donald N. Boyce. TI retained the John Crane seals business.[2][3]
The company's name is an acronym of "Innovation, Diversity, and Excellence."[4]
Divisions edit
Business units are divided into four segments:
- Fluid & Metering Technologies
- Health & Science Technologies
- Fire & Safety / Diversified Products
Products edit
IDEX Corporation's products, which include pumps, clamping systems, flow meters, optical filters, powder processing equipment, hydraulic rescue tools, and fire suppression equipment, are used in a variety of industries ranging from agriculture to semiconductor manufacturing.
Recent acquisitions edit
In May 1994, IDEX reached an agreement to acquire Hale Product, Inc., of Conshohocken, Pa., for $90 million. Hale sells fire-trucks, portable pumps, ventilation systems, and the Hurst "Jaws of Life".[5]
In January 1998, IDEX agreed to buy Gast Manufacturing of Benton Harbor, Michigan, for $118 million. Gast manufactures compressors, vacuum pumps, air motors and other products.[6]
In 2011, IDEX Corporation acquired The Fitzpatrick Company.[7]
In June 2018, IDEX Corporation announced its acquisition of Phantom Controls, Incorporated.[8]
In February 2020, they company acquired Flow Management Devices LLC., a company that created a metering calibration device for measuring oil and gas volume.[9]
In March 2021, IDEX Corporation completed its acquisition of Abel Pumps, L.P., and certain of its affiliates.[10]
In June 2021, IDEX Corporation completed its acquisition of Airtech Group, Inc., US Valve Corporation and related entities.[11]
In March 2022, IDEX Corporation completed its acquisition of Nexsight, LLC and its businesses – Envirosight, WinCan, MyTana and Pipeline Renewal Technologies (PRT).[12]
In November 2022, IDEX Corporation completed its acquisition of Muon Group and its subsidiaries – LouwersHanique, Veco, Millux, Tecan and Atul.[13]
References edit
- ^ "IDEX Corporation 2022 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 23, 2023.
- ^ Sherrod, Pamela (August 13, 1989). "For a New Firm IDEX has Stocked Up Some History". Chicago Tribune. Tribune Publishing Company. Retrieved August 14, 2020.
- ^ Holland, Max (2002). From Industry to Alchemy: Burgmaster, a Machine Tool Company. Beard Books. ISBN 978-1-58798-153-1.
- ^ "A Strong History of Innovation, Diversity and Excellence". IDEXCorp. Retrieved 2022-10-10.
- ^ "IDEX to Acquire Hale Products for $90 million". The New York Times, pg 4. 10 May 1994.
- ^ "IDEX Agrees to Buy Gast Manufacturing for $118 million". The New York Times, pg 5. 9 January 1998.
- ^ Ltd, Matcon. "About us - Learn more about Fitzpatrick". www.fitzpatrick-mpt.com. Retrieved 2024-04-26.
- ^ "StackPath". www.firehouse.com. Retrieved 2020-02-21.
- ^ Ringle, Hayley (March 9, 2020). "Phoenix oil and gas device firm acquired by Illinois company in $125M deal". www.bizjournals.com. Retrieved 2023-06-13.
- ^ "IDEX Corporation Completes Acquisition of Abel Pumps, L.P." idexcorp.com. March 11, 2021.
- ^ "IDEX Corporation Completes Acquisition of Airtech". idexcorp.com. June 14, 2021.
- ^ "IDEX Corporation Adds Wastewater Systems Solutions Expertise With Completion of Nexsight Acquisition". idexcorp.com. March 1, 2022.
- ^ "IDEX Corporation Completes Acquisition of Muon Group". idexcorp.com. November 18, 2022.
External links edit
- Official website
- Business data for IDEX Corporation:
- Bloomberg
- Reuters
- SEC filings
- Yahoo!