IDEX Acquires iPEK Spezial-TV

IDEX Corporation on Oct. 14 announced the acquisition of iPEK Spezial-TV, an Austria-based provider of systems focused on infrastructure analysis, specifically waste water collection systems. iPEK develops remote-controlled systems for infrastructure inspection.

Headquartered in Hirschegg, Austria, the company has annual revenues of approximately $25 million USD. It will be operated within IDEX's Fluid and Metering Technologies segment and is expected to leverage the ADS Environmental Services' acquisition that closed in January. With a cash consideration of approximately $43 million USD, iPEK is expected to be accretive to IDEX's earnings in 2009.

"iPEK's expertise in designing and manufacturing state-of-the-art cameras and remote-control systems for infrastructure inspection enables the continued enhancement of our market-based water platform within the Fluid and Metering Technologies segment," said Kevin Hostetler, president of the IDEX segment.

IDEX Corporation is an applied solutions company specializing in fluid and metering technologies, health and science technologies, dispensing equipment, and fire, safety and other diversified products built to its customers' exacting specifications.

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