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

Rhea-AI Summary

IDEX Corporation (NYSE:IEX) has successfully acquired Nexsight, LLC, enhancing its water business offerings. This acquisition includes leading brands such as Envirosight and WinCan, which improve IDEX's capabilities in wastewater infrastructure inspection and monitoring. CEO Eric Ashleman emphasized that this strategic move aims to diversify and strengthen IDEX's product solutions, aiding in early detection of wastewater issues, thereby benefiting clients and public health. IDEX's growth strategy involves investments in companies that align with its operational strengths.

Positive

• Acquisition of Nexsight expands IDEX's water business offerings.
• Incorporates leading brands like Envirosight and WinCan into the portfolio.
• Strengthens capabilities in wastewater infrastructure inspection and monitoring.
• Enhances predictive analytics within IDEX's existing cloud-based systems.
• Supports IDEX's growth strategy by diversifying product solutions.

Negative

• None.

NORTHBROOK, Ill.--(BUSINESS WIRE)-- 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 www.idexcorp.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220301005375/en/

Investor Contact

IDEX Corporation

Allison S. Lausas

Vice President and Chief Accounting Officer

+1 847-498-7070

investorrelations@idexcorp.com

Media Contact:

IDEX Corporation

Mark Spencer

+1 847-457-3793

mdspencer@idexcorp.com

Source: IDEX Corporation

FAQ

What is the recent acquisition by IDEX Corporation?

IDEX Corporation has acquired Nexsight, LLC, including its brands Envirosight and WinCan, to enhance its water business solutions.

How does the acquisition of Nexsight impact IDEX's business?

The acquisition strengthens IDEX's capabilities in wastewater inspection and monitoring, contributing to improved predictive analytics.

What are the strategic benefits of the Nexsight acquisition for IDEX?

This acquisition allows IDEX to diversify its offerings and enhances its ability to address wastewater system issues proactively.

When was the IDEX acquisition of Nexsight completed?

The acquisition was announced and completed on March 1, 2022.