IDEX Corp Buys Alfa Valvole EUR102M, Expects Deal ToBe Accretive In First FY Following Closing

IDEX CORPORATION IEX announced today the acquisition of Alfa Valvole, s.r.l., a leader in the design, manufacture and sale of specialty valve products used in the chemical, petrochemical, energy and sanitary markets. Located in Casorezzo, Italy, Alfa has revenues of approximately EUR30 million and will operate within the IDEX Fluid & Metering Technologies segment. Alfa was acquired for approximately EUR102 million and is expected to be accretive to IDEX earnings in the first full year after closing. Commenting on the acquisition, IDEX Chairman and Chief Executive Officer Andy Silvernail stated, "Alfa is the fifth acquisition in our rapidly expanding specialty valve platform. The company's products, technology, brand and installed customer base are an excellent fit with the IDEX business model. We look forward to Alfa joining IDEX and we are excited about our joint global growth prospects going forward."