IDEX Corporation

IDEX Corporation, based in Northbrook, Illinois, is a publicly traded company engaged in the development, design, and manufacture of fluidics systems and specialty engineered products. 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.

IDEX Corporation
TypePublic company
IndustryManufacturing
PredecessorHoudaille Industries
Founded1988
HeadquartersNorthbrook, Illinois, U.S.
Key people
Eric D. Ashleman, Chief Executive Officer and President
Productsfluidics systems, hydraulic rescue tools
RevenueIncrease US$2.484 billion (2018)
Decrease US$521 million (2020)[1]
US$378 million (2020)[2]
Total assetsIncrease US$4.414 billion (2020)[3]
Total equityIncrease US$2.54 billion (2020)[4]
Number of employees
Increase 7,075 (2020)[5]
SubsidiariesAirtech Group, Upchurch Scientific, Akron Brass, Hale Products Inc, Godiva Fire Pumps, Viking Pump, Quadro Engineering, Semrock, Liquid Controls, Warren Rupp, Microfluidics International Corporation (MFIC), Advanced Thin Films, Rheodyne, Band It, Pulsafeeder, Banjo Corporation, Material Processing Technologies (MPT), Abel Pumps, Precision Polymer Engineering (PPE), Faure Herman, Gast Manufacturing, ADS Environment, Toptech Systems, Trebor International, CIDRA Precision, Knight, Phantom Controls, Wright Flow Technologies, Pumper Parts, Versa-Matic Pump, Signfix, Richter,
Websiteidexcorp.com

HistoryEdit

IDEX was formed 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.[6][7]

The company's name is an acronym of "Innovation, Diversity, and Excellence."[citation needed]

Business units are divided into three segments:

  • Fluid & Metering Technologies
  • Health & Science Technologies
  • Fire & Safety / Diversified Products

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".[8]

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. [9]

In June 2018, IDEX Corporation announced its acquisition of Phantom Controls, Incorporated.[10]

In March 2021, IDEX Corporation completed its acquisition of Abel Pumps, L.P., and certain of its affiliates.[11]

In June 2021, IDEX Corporation completed its acquisition of Airtech Group, Inc., US Valve Corporation and related entities.[12]

In March 2022, IDEX Corporation completed its acquisition of Nexsight, LLC and its businesses – Envirosight, WinCan, MyTana and Pipeline Renewal Technologies (PRT).[13]

ReferencesEdit

  1. ^ "IDEX Operating Income 2010-2022 | IEX".
  2. ^ "IDEX Net Income 2010-2022 | IEX".
  3. ^ "IDEX Total Assets 2010-2022 | IEX".
  4. ^ "IDEX Share Holder Equity 2010-2022 | IEX".
  5. ^ "IDEX: Number of Employees 2010-2022 | IEX".
  6. ^ Sherrod, Pamela (August 13, 1989). "For a New Firm IDEX has Stocked Up Some HIstory". Chicago Tribune. Tribune Publishing Company. Retrieved August 14, 2020.
  7. ^ Holland, Max (2002). From Industry to Alchemy: Burgmaster, a Machine Tool Company. Beard Books. ISBN 978-1-58798-153-1.
  8. ^ "IDEX to Acquire Hale Products for $90 million". The New York Times, pg 4. 10 May 1994.
  9. ^ "IDEX Agrees to Buy Gast Manufacturing for $118 million". The New York Times, pg 5. 9 January 1998.
  10. ^ "StackPath". www.firehouse.com. Retrieved 2020-02-21.
  11. ^ "IDEX Corporation Completes Acquisition of Abel Pumps, L.P." idexcorp.com. March 11, 2021.
  12. ^ "IDEX Corporation Completes Acquisition of Airtech". idexcorp.com. June 14, 2021.
  13. ^ "IDEX Corporation Adds Wastewater Systems Solutions Expertise With Completion of Nexsight Acquisition". idexcorp.com. March 1, 2022.

External linksEdit