IDEX Corporation (IEX): New Analyst Report from Zacks Equity Research - Zacks Equity Research Report

Headquartered in Lake Forest, IL, IDEX Corporation is an applied solutions company that specializes in a diverse range of applications such as fluid and metering technologies health and science technologies and fire, safety and other products built to customer specifications. Serving high-growth niche markets, the company operates under three business segments, namely Fluid & Metering Technologies, Health & Science Technologies and Fire & Safety/Diversified Products. IDEX sells its products to original equipment manufacturers (OEMs), as well as to direct end-use customers across the globe. The growth strategy of the company hinges on focused investments in new products and markets, acquiring complementary technologies to supplement its existing product portfolio and building operational and commercial excellence to continuously deliver superior performance to its customers.

The Fluid & Metering Technologies segment (FMT, 43% of 2013 revenues) produces pumps, compressors, flow meters and related controls for the movement of liquids and gases in various end markets ranging from the food, chemical, general industrial, water & wastewater, agricultural and energy industries. This segment operates in five subgroups namely Energy, Water (comprised of Water Services & Technology and Diaphragm & Dosing Pump Technology), Chemical, Food & Process platforms as well as the Agricultural group (comprised of Banjo). FMT serves a diverse range of end markets, including industrial infrastructure (fossil fuels, refined & alternative fuels, and water & wastewater), chemical processing, agricultural, food & beverage, pulp and paper, transportation, plastics and resins, electronics and electrical, construction & mining, pharmaceutical and bio-pharmaceutical, machinery and numerous other specialty niche markets.

The Health & Science Technologies segment (HST, 35%) provides various precision fluidics solutions including pumps, valves, degassing equipment, corrective tubing, fittings, and complex manifolds, as well as specialty medical equipment and devices used in life science applications. This segment operates in six sub groups named as the IDEX Optics & Photonics, Scientific Fluidics, Material Processing Technologies platforms, Sealing Solutions, Micropump and Gast.

The Fire & Safety/Diversified Products segment (FST, 22%) produces fire fighting pumps, rescue tools, lifting bags, and other components and systems for the fire and rescue industry, as well as engineered stainless steel banding and clamping devices used in various industrial and commercial applications. This segment operates in four sub groups namely, Dispensing, Rescue, Band-It and Fire Suppression.