Idex Corp. to acquire STC Material Solutions for $206M

Idex Corp. announced that it has entered into a definitive agreement to acquire STC Material Solutions, an integrated provider of advanced material science solutions, from Artemis for cash consideration of $206M, subject to customary post-closing adjustments. “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. “We see STC as an excellent fit with our growth strategy, possessing IDEX qualities throughout, including highly-engineered products developed and built with expertise that commands a premium.” STC is expected to generate approximately $50M in revenue in 2024, with IDEX-like margins and will be included in the Health & Science Technologies segment. IDEX expects the transaction to close by late-2023, subject to regulatory approvals.