This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

IDEX Acquires ERC

Stocks in this article: IEX

IDEX Corporation (NYSE: IEX) announced today that it has acquired ERC from MH Capital Partners II, L.P. (“MH Capital”). ERC is a leader in the manufacture of gas liquid separations and detection solutions for the life science, analytical instrumentation and clinical chemistry markets.

ERC’s pioneering products include in-line membrane vacuum degassing solutions, refractive index detectors and ozone generation systems. ERC’s original equipment degassing solutions are considered the “standard” for many of the world’s leading instrument producers. Located in Kawaguchi, Japan, ERC has a global customer base and annual revenues of approximately ¥2.14 billion. ERC will operate within IDEX’s Health and Science Technologies segment. With cash consideration of approximately ¥1.65 billion, ERC is expected to be accretive to IDEX’s earnings within the first full year after acquisition.

Commenting on the acquisition, IDEX Chairman and Chief Executive Officer Andrew Silvernail stated, “We are thrilled with the opportunity to add ERC to our Health and Science Technologies platform. ERC provides IDEX with access to key analytical instrumentation customers, a strong manufacturing base in Japan, vital products for clinical diagnostic applications and a gateway to the burgeoning instrumentation markets of Asia. We look forward to significant collaboration in the critical areas of new product design, global sourcing and manufacturing, as we realize strategic account management and operating synergies. We believe ERC affords IDEX Health and Science a unique opportunity to strengthen our product offering for current customers as well as providing access to new and influential market participants.” ERC President, Yoshio Ishii, added, “we believe the chance to join IDEX’s Health and Science Technologies segment and their global family of brands is a great opportunity for our customers, suppliers and employees. IDEX’s commitment to the instrumentation market is well established, and we look forward to working together to achieve continued growth and success in this marketplace.”

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,262.01 +70.64 0.41%
S&P 500 2,001.30 -0.86 -0.04%
NASDAQ 4,627.2820 -10.7120 -0.23%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs