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IDEX Corporation (NYSE:IEX) has completed its acquisition of KZValve, LLC, enhancing its capabilities in agricultural and industrial fluid management solutions.
This acquisition strengthens IDEX's offerings, particularly in precision farming components, including waterproof motorized valves and controllers. CEO Eric Ashleman emphasized that this move aligns with IDEX's growth strategy, aiming to invest in innovative businesses to support efficient crop production.
KZValve now operates within IDEX’s Agriculture group, part of the Fluid & Metering Technologies segment.
Positive
Acquisition of KZValve strengthens IDEX's agricultural product offerings.
Aligns with growth strategy focused on innovative businesses and market expansion.
Negative
None.
NORTHBROOK, Ill.--(BUSINESS WIRE)--
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 www.idexcorp.com.
