IDEX Acquires ERC for ¥1.65B
IDEX Corporation (NYSE: IEX) announced today that it has acquired ERC from MH Capital Partners II, L.P.. ERC is a leader in the manufacture of gas liquid separations and detection solutions for the life science, analytical instrumentation and clinical chemistry markets.
ERC's pioneering products include in-line membrane vacuum degassing solutions, refractive index detectors and ozone generation systems. ERC's original equipment degassing solutions are considered the “standard” for many of the world's leading instrument producers. Located in Kawaguchi, Japan, ERC has a global customer base and annual revenues of approximately ¥2.14 billion. ERC will operate within IDEX's Health and Science Technologies segment.
With cash consideration of approximately ¥1.65 billion, ERC is expected to be accretive to IDEX's earnings within the first full year after acquisition.
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