IDEX To Buy Airtech Group For $470 Mln; Lifts FY Profit View

(RTTNews) - IDEX Corp. (IEX) said it agreed to acquire Airtech Group, Inc., US Valve Corporation and related entities from investment funds managed by EagleTree Capital, for cash consideration of $470 million.

The transaction is expected to close by the end of the second quarter of 2021.

IDEX Corp. said it raised its full year adjusted earnings per share guidance to $6.05 to $6.20 with second quarter adjusted earnings per share of $1.60 to $1.63.

The company increased full year organic revenue growth expectations to 9 to 10 percent with 18 to 20 percent growth in the second quarter.