IDEX Corporation Expanding Material Science Manufacturing Expertise With Acquisition of STC Material Solutions
IDEX Corporation (NYSE:IEX) today announced that it has entered into a definitive agreement to acquire STC Material Solutions (“STC”), an integrated provider of advanced material science solutions, from Artemis for cash consideration of $206 million USD, subject to customary post-closing adjustments.
- IDEX Corporation (NYSE:IEX) today announced that it has entered into a definitive agreement to acquire STC Material Solutions (“STC”), an integrated provider of advanced material science solutions, from Artemis for cash consideration of $206 million USD, subject to customary post-closing adjustments.
- STC specializes in the design and manufacturing of technical ceramics and hermetic sealing products for the most extreme, mission critical applications.
- “STC Material Solutions expands our growing expertise in material sciences and offers significant opportunities to collaborate with other IDEX critical components businesses on comprehensive solution sets for customers,” IDEX Chief Executive Officer and President Eric Ashleman said.
- This acquisition is expected to be funded by IDEX using cash on hand and proceeds from its revolving credit facility.