{"id":412123,"date":"2021-01-11T09:03:48","date_gmt":"2021-01-11T14:03:48","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=412123"},"modified":"2021-01-11T09:03:48","modified_gmt":"2021-01-11T14:03:48","slug":"idex-corporation-to-acquire-abel-pumps-l-p","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/idex-corporation-to-acquire-abel-pumps-l-p\/","title":{"rendered":"IDEX Corporation to Acquire Abel Pumps L.P."},"content":{"rendered":"

<\/p>\n

IDEX Corporation to Acquire Abel Pumps L.P. <\/b><\/p>\n

NORTHBROOK, Ill.–(BUSINESS WIRE<\/a>)–IDEX Corporation<\/a> (NYSE:IEX) today announced that it has entered into a definitive agreement to acquire Abel Pumps, L.P., and certain of its affiliates (ABEL) from Hillenbrand, Inc.<\/a> (NYSE: HI) for cash consideration of $103.5 million, before closing adjustments.\n<\/p>\n

\nABEL designs and manufactures highly engineered reciprocating positive displacement pumps for a variety of end markets, including mining, marine, power, water, wastewater and other general industries. The company\u2019s diaphragm and high-pressure piston pumps serve harsh, demanding applications involving abrasive or corrosive substances and fluids with high solids content.\n<\/p>\n

\n\u201cThe acquisition of ABEL will provide a complementary addition to the well-established expertise IDEX holds in pump manufacturing,\u201d IDEX Chief Executive Officer and President Eric Ashleman said. \u201cWe foresee ABEL benefitting from joining a company with broad knowledge in pumps and valves and a focus on solving our customers\u2019 toughest fluids challenges. Our unique decentralized structure gives our business units significant autonomy, while the common IDEX culture and operating model provides the foundation for growth and operational excellence.\u201d\n<\/p>\n

\nABEL\u2019s administration office and manufacturing plant are in B\u00fcchen, Germany, with sales and service locations in Madrid and Pittsburgh. With annual sales of approximately $34 million, ABEL will join IDEX\u2019s Fluid and Metering Technologies segment.\n<\/p>\n

\nThe transaction is expected to close in the first quarter of 2021, subject to regulatory approvals and customary closing conditions.\n<\/p>\n

About IDEX<\/strong><\/p>\n

\nIDEX (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\u2019re driving has a BAND-IT\u00ae clamp holding your side airbag safely in place. If you were ever in a car accident, a Hurst Jaws of Life\u00ae 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\u2019s 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\u2019re proud to say that we now call 40 diverse businesses around the world part of the IDEX family. With 7,000 employees and manufacturing operations in more than 20 countries, IDEX is a high-performing, global $2+ billion company committed to making trusted solutions that improve lives. IDEX shares are traded on the New York Stock Exchange under the symbol \u201cIEX\u201d.\n<\/p>\n

\nFor further information on IDEX Corporation and its business units, visit the company\u2019s website at www.idexcorp.com<\/a>.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210111005328\/en\/<\/a><\/span><\/p>\n

Investor Contact
\n<\/span>
IDEX Corporation
\n
William K. Grogan
\n
Senior Vice President and Chief Financial Officer
\n
+1 847-498-7070
\n
wgrogan@idexcorp.com<\/a><\/p>\n

Media Contact<\/span>:
\n
IDEX Corporation
\n
Mark Spencer
\n
+1 847-457-3793
\n
mdspencer@idexcorp.com<\/a><\/p>\n

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IDEX Corporation to Acquire Abel Pumps L.P. NORTHBROOK, Ill.–(BUSINESS WIRE)–IDEX Corporation (NYSE:IEX) today announced that it has entered into a definitive agreement to acquire Abel Pumps, L.P., and certain of its affiliates (ABEL) from Hillenbrand, Inc. (NYSE: HI) for cash consideration of $103.5 million, before closing adjustments. ABEL designs and manufactures highly engineered reciprocating positive displacement pumps for a variety of end markets, including mining, marine, power, water, wastewater and other general industries. The company\u2019s diaphragm and high-pressure piston pumps serve harsh, demanding applications involving abrasive or corrosive substances and fluids with high solids content. \u201cThe acquisition of ABEL will provide a complementary addition to the well-established expertise IDEX holds in pump manufacturing,\u201d IDEX Chief Executive Officer and President Eric … <\/p>\n

Continue reading “IDEX Corporation to Acquire Abel Pumps L.P.”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-412123","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nIDEX Corporation to Acquire Abel Pumps L.P. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/idex-corporation-to-acquire-abel-pumps-l-p\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IDEX Corporation to Acquire Abel Pumps L.P. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"IDEX Corporation to Acquire Abel Pumps L.P. NORTHBROOK, Ill.–(BUSINESS WIRE)–IDEX Corporation (NYSE:IEX) today announced that it has entered into a definitive agreement to acquire Abel Pumps, L.P., and certain of its affiliates (ABEL) from Hillenbrand, Inc. (NYSE: HI) for cash consideration of $103.5 million, before closing adjustments. ABEL designs and manufactures highly engineered reciprocating positive displacement pumps for a variety of end markets, including mining, marine, power, water, wastewater and other general industries. The company\u2019s diaphragm and high-pressure piston pumps serve harsh, demanding applications involving abrasive or corrosive substances and fluids with high solids content. \u201cThe acquisition of ABEL will provide a complementary addition to the well-established expertise IDEX holds in pump manufacturing,\u201d IDEX Chief Executive Officer and President Eric … Continue reading "IDEX Corporation to Acquire Abel Pumps L.P."\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/idex-corporation-to-acquire-abel-pumps-l-p\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-11T14:03:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210111005328r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/idex-corporation-to-acquire-abel-pumps-l-p\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/idex-corporation-to-acquire-abel-pumps-l-p\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"IDEX Corporation to Acquire Abel Pumps L.P.\",\"datePublished\":\"2021-01-11T14:03:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/idex-corporation-to-acquire-abel-pumps-l-p\\\/\"},\"wordCount\":539,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/idex-corporation-to-acquire-abel-pumps-l-p\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20210111005328r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/idex-corporation-to-acquire-abel-pumps-l-p\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/idex-corporation-to-acquire-abel-pumps-l-p\\\/\",\"name\":\"IDEX Corporation to Acquire Abel Pumps L.P. - 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