IDEX Corporation to Acquire Nexsight, Expanding Solutions Expertise for Wastewater Systems
Summary
“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 identity 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. Founded in 1988 with three small, entrepreneurial manufacturing companies, we’re proud to say that we now call more than 45 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 nearly $2.5 billion company committed to making trusted solutions that improve lives.