News Release Archives - Page 4 of 9 - IDEX Corporation

IDEX Corporation Appoints Alejandro Quiroz Centeno to Board of Directors

Company News
June 16, 2022

IDEX Corporation (NYSE:IEX) today announced the appointment of Alejandro Quiroz Centeno to the company’s Board of Directors. The appointment of Mr. Quiroz, effective June 15, 2022, increases the size of the board from 10 to 11 directors. He will serve on the board’s Compensation Committee.

IDEX Corporation

Mr. Quiroz currently serves as CEO Latin America for Prysmian Group, a global leader in the energy and telecommunications cable systems industry. Prior to joining Prysmian Group, Mr. Quiroz served as President, Aptiv Latin America, leading a $5.5 billion automotive technology business with 75,000 employees and 40 locations in Mexico, Central and South America. His previous experience includes leadership roles in various countries at automotive suppliers Tenneco, Edscha AG and Continental AG, as well as home appliance manufacturer Whirlpool.

“Now that more than half of IDEX revenue comes from outside the United States, we look forward to the perspective and insight that Alejandro will bring based on his significant experience leading international manufacturing organizations,” said IDEX Chief Executive Officer and President Eric D. Ashleman. “He has a strong track record of leveraging applied technologies into long-term competitive advantage within a variety of industries and geographies and will be an ideal fit for IDEX.”

Mr. Quiroz holds a Master of Business Administration degree from the University of Michigan Ross School of Business, and a Bachelor of Science degree in Mechanical Engineering from Universidad de las Americas-Puebla. He is a member of the US-Mexico Foundation and the Latino Corporate Directors Association.

“Alejandro has deep current business experience in markets all over the world, which will bring great value to our board. He will be an excellent addition to an already strong Board of Directors,” said William M. Cook, Non-Executive Chairman of the Board.

About IDEX

IDEX (NYSE: IEX) makes thousands of products and mission-critical components that improve everyday life all around you. If you enjoy chocolate, it quite possibly passed through a Viking® internal gear pump at the candy factory. If you were ever in a car accident, emergency workers may have used the Hurst Jaws of Life® rescue tool to save your life. If your doctor ordered a DNA test to predict your risk of disease or determine a course of treatment, the lab may have used equipment containing components made by IDEX Health & Science. Founded in 1988 with three small, entrepreneurial manufacturing companies, we’re proud to say that we now call over 45 diverse businesses around the world part of the IDEX family. With more than 7,500 employees and manufacturing operations in more than 20 countries, IDEX is a high-performing, global company with nearly $2.8 billion in annual sales, committed to making trusted solutions that improve lives. IDEX shares are traded on the New York Stock Exchange under the symbol “IEX”.

View source version on businesswire.comhttps://www.businesswire.com/news/home/20220616005193/en/

IDEX Corporation Adds Precision Farming Solutions for Agriculture & Industrial Applications With Completion of KZValve Acquisition

News Release
May 2, 2022

IDEX Corporation (NYSE:IEX) today announced that it has completed its previously-announced acquisition of KZValve, LLC, bolstering IDEX’s expertise in providing critical solutions for agriculture and industrial applications.

The acquisition augments and expands upon the current fluid management solutions for the agricultural product market from Banjo Corporation, a unit of IDEX. KZValve creates and manufactures a variety of precision farming components including waterproof motorized valves, manifolds, controllers, and other accessories.

“The addition of KZValve to our agriculture offerings is part of the IDEX growth strategy of investing in innovative businesses with secular growth tailwinds,” IDEX Chief Executive Officer and President Eric Ashleman said. “We look forward to welcoming KZValve team members to the IDEX family of businesses, working together to build upon our portfolio of products, and empowering OEMs and farmers to more efficiently and effectively produce crops to feed the world.”

KZValve is now part of the Agriculture group within IDEX’s Fluid & Metering Technologies (FMT) segment.

 

About IDEX

IDEX (NYSE: IEX) makes thousands of products and mission-critical components that improve everyday life all around you. If you enjoy chocolate, it quite possibly passed through a Viking® internal gear pump at the candy factory. If you were ever in a car accident, emergency workers may have used the Hurst Jaws of Life® rescue tool to save your life. If your doctor ordered a DNA test to predict your risk of disease or determine a course of treatment, the lab may have used equipment containing components made by IDEX Health & Science. Founded in 1988 with three small, entrepreneurial manufacturing companies, we’re proud to say that we now call over 45 diverse businesses around the world part of the IDEX family. With more than 7,500 employees and manufacturing operations in more than 20 countries, IDEX is a high-performing, global company with nearly $2.8 billion in annual sales, committed to making trusted solutions that improve lives. IDEX shares are traded on the New York Stock Exchange under the symbol “IEX”.

For further information on IDEX Corporation and its business units, visit the company’s website at idexcorp.com.

IDEX Reports Record First Quarter Results

News Release
April 26, 2022

IDEX Corporation (NYSE: IEX) today announced its financial results for the three month period ended March 31, 2022.

First Quarter 2022 Highlights

  • Record reported EPS of $1.83, up 24% and record adjusted EPS of $1.96, up 21% vs. Q1 2021
  • Record orders of $856 million, up 20% overall and 16% organically vs. Q1 2021
  • Record sales of $751 million, up 15% overall and 12% organically vs. Q1 2021
  • Record reported operating margin of 25.0%, up 110 basis points vs. Q1 2021
  • Completed acquisition of Nexsight, LLC on February 28, 2022
  • Announced upcoming acquisition of KZValve

View full report at: https://investors.idexcorp.com/news-releases/news-release-details/idex-reports-record-first-quarter-results

IDEX Corporation to Acquire KZValve Business, Expanding Solutions for Agriculture & Industrial Applications

Company News
March 30, 2022

IDEX Corporation (NYSE:IEX) today announced that it has entered into a definitive agreement to acquire KZ CO. (“KZValve”), a leading manufacturer of electric valves and controllers used primarily in the agriculture market.

Founded in 1976, KZValve is recognized as an innovative provider of high value agricultural components that are designed to operate in harsh environments to support modern farming operations. The company creates and manufactures a variety of precision farming components including waterproof motorized valves, manifolds, controllers and other accessories. Besides agriculture, the company serves other segments including water filtration, de-icing and anti-icing, and emergency fire services. KZValve employs about 100 people.

The acquisition of KZValve will augment and further expand IDEX’s agricultural product portfolio, complementing Banjo Corporation’s current fluid management solutions for this market. KZValve will become part of the agriculture group within IDEX’s Fluid & Metering Technologies (FMT) segment. This transaction is part of IDEX’s continued strategy to invest in core businesses with secular growth tailwinds while investigating near adjacencies.

“Adding KZValve to the IDEX family of companies will extend our expertise in providing OEMs with critical solutions for agriculture and industrial applications, opening access to new product opportunities,” IDEX Chief Executive Officer and President Eric Ashleman said. “In our unique structure, companies retain a great deal of autonomy, while benefitting from the resources and operating model at IDEX. KZValve is a high-quality addition to our portfolio of businesses, with strong customer relationships and differentiated products that will continue building our innovative presence in the agriculture industry.”

Headquartered in Greenwood, Nebraska, KZValve is expected to have sales of approximately $28.0 million in FY2022. The transaction is expected to close in the second quarter of FY2022, subject to regulatory approvals and customary closing conditions.

View source version on businesswire.comhttps://www.businesswire.com/news/home/20220330005858/en/

IDEX Corporation Adds Wastewater Systems Solutions Expertise With Completion of Nexsight Acquisition

News Release
March 1, 2022

IDEX Corporation (NYSE:IEX) today announced that it has completed its previously-announced acquisition of Nexsight, LLC and its market leading businesses – Envirosight, WinCan, MyTana and Pipeline Renewal Technologies (PRT).

The acquisition complements and expands upon the solutions offered by our existing IDEX water business units iPEK and ADS. Nexsight bolsters those offerings by including iPEK’s key North American channel partner and its leading wastewater video inspection software platform, which IDEX foresees helping to extend the capabilities of ADS’s cloud-based wastewater system monitoring and predictive analytics platform.

“We continue to deploy capital, investing in IDEX-like businesses that bring diversified new offerings that enhance the solutions set we can provide to customers and help drive growth for investors,” IDEX Chief Executive Officer and President Eric Ashleman said. “Nexsight and its employees worldwide are a welcome addition to the IDEX family of businesses, expanding our expertise in the inspection and monitoring of wastewater infrastructure, where we help predict and identify wastewater system issues early, preventing them from causing property damage, harming the environment and impacting public health.”

About IDEX

IDEX (NYSE: IEX) is a company that has undoubtedly touched your life in some way. In fact, IDEX businesses make thousands of products that are mission-critical components in everyday activities. Chances are the car you’re driving has a BAND-IT® clamp holding your side airbag safely in place. If you were ever in a car accident, a Hurst Jaws of Life® rescue tool may have saved your life. If you or a family member is battling cancer, your doctor may have tested your DNA in a quest to find the best targeted medicine for you. It’s likely your DNA test was run on equipment that contains components made by our IDEX Health & Science team. Founded in 1988 with three small, entrepreneurial manufacturing companies, we’re proud to say that we now call over 45 diverse businesses around the world part of the IDEX family. With more than 7,500 employees and manufacturing operations in more than 20 countries, IDEX is a high-performing, global company with nearly $2.8 billion in sales, committed to making trusted solutions that improve lives. IDEX shares are traded on the New York Stock Exchange under the symbol “IEX”.

For further information on IDEX Corporation and its business units, visit the company’s website at idexcorp.com.

IDEX Corporation Announces Appointment of Paris Watts-Stanfield to Board of Directors

News Release
February 28, 2022

IDEX Corporation (NYSE:IEX) today announced the appointment of Paris Watts-Stanfield to the company’s Board of Directors. The appointment of Ms. Watts-Stanfield, effective February 25, 2022, increases the size of the board from 10 to 11 directors. She will serve on the board’s Audit Committee.

Ms. Watts-Stanfield currently serves as Vice President and Chief Financial Officer, Greater China, of Medtronic, Inc., a global leader in medical technology, services and solutions. She has deep experience in corporate finance and audit functions through a career spanning Medtronic, Alcoa, Wal-Mart, and Procter & Gamble.

“Paris brings outstanding global business skills and broad experience to IDEX to support our next chapter of growth and value creation. We see tremendous personal alignment to the mission that supports our efforts, Trusted Solutions, Improving Lives®,” said IDEX Chief Executive Officer and President Eric D. Ashleman.

A passionate community advocate, Paris serves on the board of Feeding America. In addition, she is a member of the African Descent Network leadership team at Medtronic. She holds an MBA in Finance, Organizations & Markets from the University of Rochester, Simon School of Management, and a bachelor’s degree in Mathematics from the State University of New York.

“Paris has unique perspectives to offer regarding global financial systems and controls, as well as the Environmental, Social and Governance (ESG) commitments a company ought to be making today. She will certainly enhance our dialog in guiding IDEX to new levels of success,” said William M. Cook, Non-Executive Chairman of the Board.

About IDEX

IDEX (NYSE: IEX) is a company that has undoubtedly touched your life in some way. In fact, IDEX businesses make thousands of products that are mission-critical components in everyday activities. Chances are the car you’re driving has a BAND-IT® clamp holding your side airbag safely in place. If you were ever in a car accident, a Hurst Jaws of Life® rescue tool may have saved your life. If you or a family member is battling cancer, your doctor may have tested your DNA in a quest to find the best targeted medicine for you. It’s likely your DNA test was run on equipment that contains components made by our IDEX Health & Science team. Founded in 1988 with three small, entrepreneurial manufacturing companies, we’re proud to say that we now call over 45 diverse businesses around the world part of the IDEX family. With more than 7,500 employees and manufacturing operations in more than 20 countries, IDEX is a high-performing, global company with nearly $2.8 billion in sales, committed to making trusted solutions that improve lives. IDEX shares are traded on the New York Stock Exchange under the symbol “IEX”.

For further information on IDEX Corporation and its business units, visit the company’s website at idexcorp.com.

Contact

IDEX Corporation
William K. Grogan
Senior Vice President and Chief Financial Officer
847-498-7070

IDEX Reports Fourth Quarter and Full Year 2021 Results

News Release
February 1, 2022

IDEX Corporation (NYSE: IEX) today announced its financial results for the quarter and year ended December 31, 2021.

Full Year Highlights

  • Record full year reported EPS of $5.88, up 19%; record adjusted EPS of $6.30, up 21%
  • Record full year sales of $2.8 billion, up 18% overall and 12% organically vs. 2020
  • Full year operating margin of 23.0%; adjusted operating margin of 23.9%
  • Invested more than $650 million for acquisitions and capital projects

Fourth Quarter Highlights

  • Record fourth quarter reported and adjusted EPS of $1.55
  • Record fourth quarter orders of $795.3 million, up 17% overall and 13% organically vs. Q4 2020
  • Record fourth quarter sales of $714.8 million, up 16% overall and 11% organically vs. Q4 2020
  • Announced upcoming acquisition of Nexsight, LLC

View full report at: https://investors.idexcorp.com/news-releases/news-release-details/idex-reports-fourth-quarter-and-full-year-2021-results

IDEX Corporation to Acquire Nexsight, Expanding Solutions Expertise for Wastewater Systems

Company News
November 23, 2021

IDEX Corporation (NYSE:IEX) today announced that it has entered into a definitive agreement to acquire Nexsight, LLC and its market leading businesses – Envirosight, WinCan, MyTana and Pipeline Renewal Technologies (PRT) – for cash consideration of $120 million, subject to customary post-closing adjustments.

The acquisition will complement and bolster existing IDEX business units iPEK and ADS, which design and create sewer crawlers, inspection and monitoring systems, and software applications that allow teams to identify, anticipate and correct wastewater system issues remotely.

Through the Nexsight acquisition, IDEX will expand to include iPEK’s key North American channel partner and its leading wastewater video inspection software platform, which we foresee helping to broaden the capabilities of ADS’s cloud-based wastewater system monitoring and predictive analytics platform.

“Acquiring Nexsight will broaden our expertise in the inspection and monitoring of wastewater infrastructure,” IDEX Chief Executive Officer and President Eric Ashleman said. “We intend to continue growing our presence in intelligent water technologies, where we can help predict and identify wastewater system issues early, preventing them from causing property damage, harming the environment and impacting public health.”

“IDEX continues to actively seek and analyze opportunities to deploy capital and acquire IDEX-like businesses, as well as make calculated bets in new technologies to support growth, strengthen our portfolio and enhance our return to shareholders,” Ashleman said.

With annual sales of approximately $50 million, Nexsight will join the water group within IDEX’s Fluid & Metering Technology segment. The transaction is expected to close in the first quarter of 2021, subject to regulatory approvals and customary closing conditions.

IDEX Reports Record Third Quarter Results

News Release
October 26, 2021

IDEX Corporation (NYSE: IEX) today announced its financial results for the three month period ended September 30, 2021.

Third Quarter 2021 Highlights

  • Record orders of $774.2 million up 36 percent overall and 28 percent organically compared to Q3 2020
  • Record sales of $712.0 million up 23 percent overall and 15 percent organically compared to Q3 2020
  • Reported operating margin was 22.6 percent with adjusted operating margin of 24.3 percent
  • Record reported EPS was $1.51 with record adjusted EPS of $1.63
  • Full year adjusted EPS guidance narrowed to $6.30 to $6.33 compared to prior guidance of $6.26 to $6.36

View full report at: https://investors.idexcorp.com/news-releases/news-release-details/idex-reports-record-third-quarter-results

 

IDEX Foundation Enters National Partnership with Boys & Girls Clubs of America

Company News
October 1, 2021

Teams at IDEX business units across the United States now have expanded opportunities to volunteer locally as part of a new partnership between Boys & Girls Clubs of America and the IDEX Foundation, the charitable giving extension of IDEX Corporation (NYSE: IEX). The national partnership is an outgrowth of successful relationships various IDEX business units have had with local Clubs for years.

The partnership, which includes financial support and opportunities for volunteerism at local Clubs, results from the IDEX Foundation adding “Equity & Opportunity” – creating opportunities for under-served, disadvantaged people of color in our communities – as an additional charitable pillar earlier this year.

“IDEX teams regularly perform volunteer work through local charities that impact their communities, with financial support from the IDEX Foundation. This new partnership will provide tailor made opportunities to do even more through the amazing work done every day at Clubs in the communities where we live and work,” said Derrick Goddard, president of the IDEX Foundation.

The IDEX Foundation’s decision to partner with Boys & Girls Clubs of America nationally fits with the organization’s mission to help empower young people to reach their full potential. Clubs are located near every IDEX business unit in the United States.

“Thank you to the IDEX Foundation, its business units and employees for supporting Boys & Girls Clubs of America as we continue our commitment to offering youth the resources they need to reach their full potential,” said Chad Royal-Pascoe, acting senior vice president, resource development for Boys & Girls Clubs of America. “It is through partnerships like this that we are able to fuel programs, experience and opportunities that help us to close the equity and opportunity gaps for kids and teens.”

 

About IDEX

IDEX (NYSE: IEX) is a company that has undoubtedly touched your life in some way. In fact, IDEX businesses make thousands of products that are mission-critical components in everyday activities. Chances are the car you’re driving has a BAND-IT® clamp holding your side airbag safely in place. If you were ever in a car accident, a Hurst Jaws of Life® rescue tool may have saved your life. If you or a family member is battling cancer, your doctor may have tested your DNA in a quest to find the best targeted medicine for you. It’s likely your DNA test was run on equipment that contains components made by our growing IDEX Health & Science team. Founded in 1988 with three small, entrepreneurial manufacturing companies, we’re proud to say that we now call over 40 diverse businesses around the world part of the IDEX family. With more than 7,000 employees and manufacturing operations in more than 20 countries, IDEX is a high-performing, global nearly $2.5 billion company committed to making trusted solutions that improve lives. IDEX shares are traded on the New York Stock Exchange under the symbol “IEX”.

For further information on IDEX Corporation and its business units, visit the company’s website at idexcorp.com.

 

About Boys & Girls Clubs of America

For 160 years, Boys & Girls Clubs of America (BGCA.org) has provided a safe place for kids and teens to learn and grow. Clubs offer caring adult mentors, fun and friendship, and high-impact youth development programs on a daily basis during critical non-school hours. Boys & Girls Clubs programming promotes academic success, good character and leadership, and healthy lifestyles. More than 4,700 Clubs serve over 4.3 million young people through Club membership and community outreach. Clubs are located in cities, towns, public housing and on Native lands throughout the country, and serve military families in BGCA-affiliated Youth Centers on U.S. military installations worldwide. National headquarters are located in Atlanta. Learn more about Boys & Girls Clubs of America on Facebook and Twitter.

 

 

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