We expect this acquisition to be an outstanding fit for IDEX. “Airtech has an excellent record of providing highly engineered solutions for niche applications across a wide array of industries. “The acquisition of Airtech expands our expertise in specialized, high-performing air moving technologies, increasing our ability to serve customers’ needs,” IDEX Chief Executive Officer and President Eric Ashleman said. Airtech serves clients globally, with operations in the United States, Europe and Asia.
The company provides customized solutions across diversified end markets such as alternative energy, food processing, medical, packaging and transportation.
NORTHBROOK, Ill.-( BUSINESS WIRE)- IDEX Corporation (NYSE:IEX) today announced that it has entered into a definitive agreement to acquire Airtech Group, Inc., US Valve Corporation and related entities from investment funds managed by EagleTree Capital for cash consideration of $470 million, subject to customary post-closing adjustments.Īirtech designs and manufactures a wide range of highly engineered pressure technology products, including vacuum pumps, regenerative blowers, compressor systems and valves.
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