HPLC-related hardware and accessories supplier will be added to firm’s Health and Science Technologies segment.
Idex acquired column hardware and accessories developer Isolation Technologies for a cash consideration of $30 million. The company supplies to the HPLC market.
The company will operate as part of Idex’ Sapphire Engineering business within its Health and Science Technologies segment. Isolation Technologies has annual revenues of approximately $11 million, according to Idex. The acquisition is expected to be accretive to Idex’ earnings in 2008.
“Isolation Technologies fits Idex’ growth strategy exceptionally well and is an excellent addition to our Health and Science Technologies segment,” states Larry Kingsley, chairman and CEO. “The expansion of our Sapphire Engineering business will broaden our product offering, enhancing our ability to meet our customers’ needs in the growing global market for analytical, biotechnology, and diagnostic instrumentation solutions.”