IDEX Corporation
 | |
| Company type | Public |
|---|---|
| Industry | Manufacturing |
| Predecessor | Houdaille Industries |
| Founded | 1988 |
| Headquarters | Northbrook, Illinois, U.S. |
Key people | |
| Products | fluidics systems, hydraulic rescue tools |
| Revenue |  US$3.26 billion (2024) |
 US$677 million (2024) | |
| US$505 million (2024) | |
| Total assets | US$6.74 billion (2024) |
| Total equity | US$3.79 billion (2024) |
Number of employees | 9,000 (2024) |
| Subsidiaries |
|
| Website | idexcorp |
| Footnotes / references [1] | |
IDEX Corporation is an American industrial company based in Northbrook, Illinois, that engages in the development, design, and manufacture of fluidics systems, optics systems, fire and rescue equipment, and other specialty engineered products. The company is publicly traded and is a component of the S&P 500 index.
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.[2][3] The company raised $3.3 million with its initial public offering in June 1989.[4]
In May 1994, IDEX reached an agreement to acquire Hale Products, Inc., of Conshohocken, Pa., for $90 million. Hale sells fire-trucks, portable pumps, ventilation systems, and is part of IDEX's fire and safety division, which includes the Hurst "Jaws of Life".[5][6] By 1996, IDEX had acquired ten other companies and its annual revenue was approximately $562 million.[7]
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.[8] The following year, the company's original CEO Donald Boyce stepped down from his position. IDEX COO Frank Hansen took over as chief executive.[9]
In 2011, IDEX acquired Microfluidics International, a company that designs and manufactures equipment that used to produce nanoparticles.[10] This acquisition supported IDEX's existing work in pharmaceutical research and production.[11]
In June 2018, IDEX Corporation announced its acquisition of Phantom Controls, a company that manufactures pump systems.[12]
In March 2021, IDEX announced that it was acquiring Abel Pumps LP, a manufacturer of reciprocating positive displacement pumps used in mining, marine, and power industries.[13] The following month, IDEX announced it had agreed to acquire Airtech Group, Inc. and US Valve Corporation. Airtech is a manufacturer of pressure technology products such as pumps and compressor systems and valves.[14]
In September 2022, IDEX announced that it would acquire the Netherlands-based micro-precision technology conglomerate Muon Group,[15] and that Muon's several subsidiaries, such as LouwersHanique and Millux, would be incorporated into IDEX's health and science technologies segment.[16] In July 2024, IDEX announced that it would soon purchase Mott Corp, a filtration products manufacturer, to further bolster the company's health and science technologies segment.[17]
Operations
[edit]IDEX's name is an acronym for "Innovation, Diversity, and Excellence."[18] The company is composed of more than 50 largely decentralized businesses that operate as subsidiaries.[19][20][21] It operates in approximately 20 countries[19] and its business is organized into three segments: Fluid and Metering Technologies, Health and Science Technologies, and Fire and Safety and Diversified products.[22][23]
IDEX is headquartered in Northbrook, Illinois.[24] Its CEO is Eric Ashleman.[20] As of February 2025, it employs approximately 9,000 people.[25] The company is publicly traded on the New York Stock Exchange and is included in the S&P 500.[26]
Products
[edit]IDEX manufactures industrial equipment and components for diversified markets, including the agricultural, pharmaceutical, semiconductor, and fire safety sectors.[27][28] Its products include fluid-handling apparatuses like pumps, valves, and flow meters.[29][30] It also makes air compressors, optical filters, hydraulic rescue tools, and fire suppression equipment.[29][30][31]
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.
- ^ "Briefs". New York Times. June 5, 1989. Retrieved January 10, 2025.
- ^ "IDEX to Acquire Hale Products for $90 million". The New York Times, pg 4. 10 May 1994.
- ^ "IDEX Fire & Safety Continues Transition To Integrated Solutions Provider With Creation Of New Leadership Roles". The Big Red Guide. July 22, 2020. Retrieved February 3, 2025.
- ^ Murphy, H. Lee (April 7, 1997). "Acquisitions Fueling IDEX's Steady Growth". Crain's Chicago Business. p. 47.
Northbrook-based Idex has made 10 acquisitions since 1988 … Last year, Idex's revenues rose 15% to $562.6 million, while earnings were up 11% to $50.2 million, or $1.69 a share.
- ^ "IDEX Agrees to Buy Gast Manufacturing for $118 million". The New York Times. 9 January 1998. p. 5.
- ^ Murphy, H. Lee (January 18, 1999). "As IDEX'S new CEO, Hansen Set To Pursue More Deals". Crain's Chicago Business. p. 12.
Idex Corp. has had only one CEO, Donald Boyce. But Mr. Boyce recently turned 60, and he plans to pass the torch on March 31 to Frank Hansen, who has been president and chief operating officer..
- ^ "IDEX to acquire Microfluidics International". Marketline. January 12, 2011.
IDEX is a manufacturer and marketer of engineered industrial products, while MIC is a designer and manufacturer of laboratory and commercial equipment used in the production of micro and nano scale materials for the pharmaceutical and chemical markets.
- ^ "Idex Enters Pact to Acquire Microfluidics International". Close-Up Media. January 19, 2011.
Microfluidics' leading technology in particle size reduction and nanoparticle creation adds enabling technology to one of our key platforms supporting pharmaceutical research and production.
- ^ "New Andigo branch opens". Daily Herald. July 26, 2018.
The company noted its June acquisition of Phantom Controls, a pump systems manufacturer, that will be a part of its Fire & Safety/Diversified Products segment.
- ^ "IDEX Corp. to acquire Abel Pumps". Daily Herald. January 12, 2021.
IDEX Corp. Monday said it has entered into a definitive agreement to acquire Abel Pumps LP, and certain of its affiliates, from Hillenbrand Inc. for cash consideration of $103.5 million. Abel designs and manufactures reciprocating positive displacement pumps for a variety of end markets, including mining, marine, power, water, wastewater and other general industries.
- ^ "IDEX Corp. to acquire Airtech for $470 million". Daily Herald. April 29, 2021.
IDEX Corp. said it has agreed to acquire Airtech Group Inc., US Valve Corp. and related entities ... Airtech designs and manufactures a wide range of highly engineered pressure technology products, including vacuum pumps, regenerative blowers, compressor systems and valves.
- ^ "Idex Corporation Aims to Purchase Muon Group". Close-Up Media. September 29, 2022.
Idex Corporation reported that it has entered into a definitive agreement to acquire micro-precision technology manufacturing company Muon B.V. and its subsidiaries (Muon Group) for cash consideration of EUR700 million.
- ^ "IDEX Adds Muon Group to Health & Science Technologies Segment". Photonics Spectra. September 2022. Retrieved March 3, 2025.
- ^ "Industrial equipment maker IDEX to buy Mott Corp for $1 billion". Reuters. July 23, 2024. Retrieved January 10, 2025.
- ^ Darby, Edwin (February 2, 1992). "Idex plans to ride the up cycle". Chicago Sun-Times. p. 47.
A decade later, KK&R assisted in the sale of a principal division to a British company and the reconstitution of the company as IDEX (Innovation, Diversity, Excellence) as a public stock company.
- ^ a b "IDEX headquarters in Northbrook debuts interior by general contractor Skender". Daily Herald. November 24, 2024. Retrieved February 19, 2025.
- ^ a b Soule, Alexander (July 25, 2024). "Connecticut-based manufacturing company Mott Corp. purchased for $1 billion". Connecticut Insider. Retrieved February 19, 2025.
- ^ "Form 10-K". SEC.gov. February 14, 2025. Retrieved March 25, 2025.
- ^ Jones, Al (December 7, 2013). "IDEX Corp. CEO Andrew Silvernail is newest Stryker board member". MLive. Retrieved February 19, 2025.
- ^ "Business Segments". idexcorp.com. February 19, 2025. Retrieved February 19, 2025.
- ^ Klicki, Rich (January 29, 2020). "IDEX to move headquarters to Northbrook". Daily Herald. Retrieved February 19, 2025.
- ^ "IDEX Reports Fourth Quarter and Full Year 2024 Results". investors.idexcorp.com. February 4, 2025. Retrieved February 6, 2025.
- ^ "IDEX Corp". barrons.com. February 19, 2025. Retrieved February 19, 2025.
- ^ "Industrial equipment maker IDEX to buy Mott Corp for $1 billion". Reuters. July 23, 2024. Retrieved February 19, 2025.
- ^ Jones, Al (December 7, 2013). "IDEX Corp. CEO Andrew Silvernail is newest Stryker board member". MLive. Retrieved February 19, 2025.
- ^ a b "Hale Fire pumps leaving PA after nearly 100 years, began in Radnor". Main Line Times & Suburban. September 23, 2021. Retrieved March 10, 2025.
- ^ a b "CVI Melles Griot sold to IDEX Corp for $400M". Optics.org. May 11, 2011. Retrieved March 10, 2025.
- ^ "IDEX grows optics offering with Iridian deal". Optics.org. April 27, 2023. Retrieved March 10, 2025.
