New Publications & Awards Highlight ADS® Preventing Sewer System Overflows

Company News
January 5, 2023

If undetected sewer system blockages result in back-ups and overflow, wastewater can pollute bodies of water, cause costly property damage, and jeopardize public health. The role ADS Environmental Services®, a unit of IDEX, plays in helping utilities and municipalities effectively manage wastewater systems is highlighted in recent articles and was the subject of a national award.

The New England Water Environment Association (NEWEA) Journal recently published an article about smart sewer technology, co-authored by our ADS colleagues Mike Bonomo and Kevin Enfinger. The article  outlines how data from smart sensors positioned throughout a sewer system, analyzed by a machine learning algorithm, can detect an emerging blockage before it grows to become a problem. This allows maintenance crews to remove the blockage before any harm is done. Learn more.

A new case study published by ADS (see attached) discusses how a large community-owned utility in Florida – one of the largest systems in the United States – is using ADS to optimize its sewer cleaning program, including a focus on 100 “hot spots” that have a history of needing more frequent cleaning because of blockages. With more than 3,900 miles of wastewater collection lines, over 1,300 pumping stations, and eleven wastewater treatment plants, the system handles more than 80 million gallons of wastewater every day. Using ECHO flow monitors connected through cellular network to cloud-based PRISM™ software, the utility reduced its work order volume by 35 percent. Learn more.

And from the southern hemisphere, the Australian Water Association awarded TasWater, WSP in Australia, and ADS Environmental Services the “Infrastructure Project Innovation Award” at the Tasmanian Water Awards.  The specific project was the Launceston Network Flow Survey and Hydraulic Model Build & Calibration.  The association stated, “The Launceston network monitoring and model calibration project has been a collaboration between TasWater and industry partners. It has delivered an accurate and predictive tool that will be utilised to plan and design significant projects within Launceston. The project has also significantly built the understanding and operational intelligence of Australia’s largest combined sewage network.” Learn more.

Melissa Aquino Leaving IDEX

Company News
January 4, 2023

Melissa Aquino, Senior Vice President, Group Executive for the Fluid & Metering Technologies (FMT) and Fire, Safety & Diversified (FSD)  segments has accepted a job opportunity outside of our organization. She is leaving IDEX effective January 4, 2023.

We are immediately resuming a search for her replacement in this important role leading two of our key segments.

IDEX Corporation Completes Acquisition of Muon Group

News Release
November 18, 2022

Northbrook, Illinois (November 18, 2022) – IDEX Corporation (NYSE:IEX) today announced that it has completed its previously-announced acquisition of micro-precision technology manufacturing company Muon B.V. and its subsidiaries (“Muon Group”).

Based in the Netherlands, Muon Group manufactures highly precise flow paths in a variety of materials that enable the movement of various liquids and gases in critical applications for medical technologies, semiconductor, food processing, digital printing and filtration. The group includes LouwersHanique, Veco, Millux, Tecan and Atul, which have critical technical expertise in precision and tolerances for different materials, from metals and glass to plastics and ceramics.

“The Muon Group companies are an IDEX-like collection of businesses, making precise, highly-engineered solutions for mission-critical applications, with a values-based culture that very much matches ours. I’m pleased to welcome the Muon Group team to the IDEX family,” IDEX Chief Executive Officer and President Eric Ashleman said.

“It’s clear that joining a global manufacturing company like IDEX will give us tremendous opportunities to continue scaling up our growth. Becoming part of the IDEX culture and operating model will give us resources, rigor and colleagues that we believe will help us together achieve even greater things,” said Michiel Barendse, Managing Director of Muon Group.

Muon Group will report into IDEX’s Health & Science Technology (HST) segment.

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements regarding the expected benefits of the acquisition of Muon Group. These statements are subject to inherent uncertainties and risks that could cause actual results to differ materially from those anticipated at the date of this press release. The risks and uncertainties include, but are not limited to, the following: the impact of health epidemics and pandemics, including the COVID-19 pandemic, and the impact of related governmental actions, on IDEX’s ability to operate its business and facilities, on its customers, on supply chains and on the U.S. and global economy generally; economic and political consequences resulting from terrorist attacks and wars, including Russia’s invasion of Ukraine and the global response to this invasion, which, along with the ongoing effects of the COVID-19 pandemic, could have an adverse impact on IDEX’s business by creating disruptions in the global supply chain and by potentially having an adverse impact on the global economy; levels of industrial activity and economic conditions in the U.S. and other countries around the world, including uncertainties in the financial markets; pricing pressures, including inflation and rising interest rates, and other competitive factors and levels of capital spending in certain industries, all of which could have a material impact on order rates and IDEX’s results; IDEX’s ability to integrate the Muon Group and to acquire, integrate and operate other acquired businesses on a profitable basis; the relationship of the U.S. dollar to other currencies and its impact on pricing and cost competitiveness; political and economic conditions in foreign countries in which IDEX operates; developments with respect to trade policy and tariffs; interest rates; capacity utilization and the effect this has on costs; labor markets; supply chain backlogs, including risks affecting component availability, labor inefficiencies and freight logistical challenges; market conditions and material costs; risks related to environmental, social and corporate governance (“ESG”) issues, including those related to climate change and sustainability; and developments with respect to contingencies, such as litigation and environmental matters. Additional factors that could cause actual results to differ materially from those reflected in the forward-looking statements include, but are not limited to, the risks discussed in the “Risk Factors” section included in IDEX’s most recent annual report on Form 10-K and IDEX’s subsequent quarterly reports filed with the Securities and Exchange Commission (“SEC”) and the other risks discussed in IDEX’s filings with the SEC. The forward-looking statements included here are only made as of the date of this press release, and management undertakes no obligation to publicly update them to reflect subsequent events or circumstances, except as may be required by law. Investors are cautioned not to rely unduly on forward-looking statements when evaluating the information presented here.

About IDEX

IDEX Corporation (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 8,000 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.

Investor Contact:

IDEX Corporation
Allison 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

IDEX Reports Record Third Quarter Results and Raises Full Year Guidance

News Release
October 25, 2022

IDEX Corporation (NYSE: IEX) today announced its financial results for the three month period ended September 30, 2022.

Third Quarter 2022 Highlights

  • Record reported EPS of $2.36, up 56% and record adjusted EPS of $2.14, up 20% vs. Q3 2021
  • Record sales of $824 million, up 16% overall and 15% organically vs. Q3 2021
  • Reported and adjusted operating margin of 24.5% and 24.9% were up 190 and 60 basis points, respectively, vs. Q3 2021
  • Record cash from operations of $198 million was 111% of net income; record free cash flow of $182 million was 112% of adjusted net income
  • Full year GAAP EPS and adjusted EPS raised to $7.75 to $7.80 and $8.04 to $8.09, respectively

View full report at: https://www.businesswire.com/news/home/20221025005893/en/

IDEX Health & Science Rohnert Park Wins Best Places to Work Award

Company News
September 28, 2022

IDEX Health & Science (IH&S) in Rohnert Park, California, recently received recognition as one of the 2022 Best Places to Work by the North Bay Business Journal. Team members attended a local ceremony earlier this month, and celebrated winning the award for the ninth time.

“The only way to win this award is through our employees responding in a positive manner to the North Bay Business Journal survey,” said Betsy Schaffer, PHR, Human Resources Director at Rohnert Park. ”That makes the honor much more meaningful.”

​IDEX Health & Science team members in Rohnert Park manufactures fluidic products used in life science instruments.

IDEX Corporation Appoints Katrina L. Helmkamp as Non-Executive Chair; William M. Cook to Retire

Company News
September 22, 2022
Katrina L. Helmkamp, who was appointed Non-Executive Chair of the IDEX Corporation Board of Directors, effective October 1, 2022.

IDEX Corporation (NYSE: IEX) today announced that Katrina L. Helmkamp has been appointed Non-Executive Chair of its Board of Directors, effective October 1, 2022.

Ms. Helmkamp has served as an independent director and member of the IDEX Board since November 2015, and as a member of multiple Board committees, including as Chair of the Nominating and Corporate Governance Committee. As President and CEO of Cartus Corporation, the relocation services subsidiary of Anywhere Real Estate Inc., and in her previous roles as CEO of Lenox Corporation and Vice President Global Refrigeration for Whirlpool Corporation, she has gained extensive global business experience, with operating leadership skills and experience across multiple markets and technologies.

“The impact of IDEX’s highly engineered products used in mission-critical applications can be seen in so many industries worldwide. I am committed to and proud to support IDEX in its continued success,” Ms. Helmkamp said.

Ms. Helmkamp succeeds William M. Cook, who after fourteen years of serving on the IDEX Board has announced his intention to retire. Mr. Cook has been an invaluable contributor to the Board of Directors and the company, serving in various leadership roles including as a member and Chair of the Audit Committee, Lead Director, and most recently, as Non-Executive Chairman of the Board.

Ms. Helmkamp continued, “It is no surprise that the National Association of Corporate Directors (NACD) named Bill Cook its ‘Public Company Director of the Year’ in 2021. His presence will be greatly missed by the Board, and I am honored to continue the work to support IDEX in creating value for shareholders and innovative and valued solutions for customers.”

Mr. Cook noted, “What first attracted me to the IDEX Board of Directors remains there today. It is a world-class Board, bringing together highly intelligent and results-driven business executives in a very collaborative culture, where everyone always brings their ‘best game.’ Katrina is a natural choice to be the next Chair of the Board of Directors. She has what it takes to be an outstanding leader.”

“As we look to the future, I am excited to continue working with Katrina to build on IDEX’s long track record of success,” said Eric D. Ashleman, CEO and President of IDEX Corporation. “I also want to thank Bill, on behalf of the entire organization, for the remarkable leadership and unwavering encouragement he has provided during his 14 years of service on the IDEX Board.”

With Mr. Cook’s departure, effective October 1, 2022, the size of the Board will decrease from 11 to 10 directors.

About IDEX

IDEX Corporation (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 8,000 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.

IDEX Corporation’s Capital Deployment Continues with Agreement to Acquire Muon Group

Company News
September 13, 2022

IDEX Corporation (NYSE:IEX) today announced that it has entered into a definitive agreement to acquire micro-precision technology manufacturing company Muon B.V. and its subsidiaries (“Muon Group”) for cash consideration of €700 million.

Based in the Netherlands, Muon Group manufactures highly precise flow paths in a variety of materials that enable the movement of various liquids and gases in critical applications for medical technologies, semiconductor, food processing, digital printing and filtration. The group includes LouwersHanique, Veco, Millux, Tecan and Atul, which have critical technical expertise in precision and tolerances for different materials, from metals and glass to plastics and ceramics.

“Together, the Muon Group will expand upon a growing platform of IDEX precision technology businesses, including those already part of IDEX Health & Science, with unique technology and product solutions for similar end-customers. The commercial synergy potential between our health and science businesses and Muon Group companies will yield expanded offerings to new and existing customers,” IDEX Chief Executive Officer and President Eric Ashleman said. “Muon Group is an IDEX-like business, producing highly engineered products used in mission-critical applications where customers demand exacting quality standards. Their companies are leaders in their fields, and we are excited to welcome them and their outstanding management team to the IDEX family.”

Like IDEX, Muon Group has strong connections to an array of highly innovative, well-known OEMs, working in partnership like members of an extended team to solve some of their most challenging issues. This forms a strong base for ongoing growth through innovation.

“The acquisition of Muon Group demonstrates our disciplined capital deployment strategy that focuses on identifying high-quality technology businesses that will enhance our strategy and we believe will drive long term shareholder value,” Ashleman said. “We expect Muon Group to thrive in our entrepreneurial culture, while our decentralized model fosters decision-making closest to the customer, producing excellent results.”

“All of us at Muon are excited to be joining forces with the IDEX platform as we feel this is the best way to secure our long-term growth ambitions. IDEX’s operating model and culture match ours well, and their scale and resources will help us achieve our targets faster,” Michiel Barendse, CEO of Muon Group said.

Muon Group is privately held by Rivean Capital, a European mid-market private equity firm, which acquired the company in 2018.

With expected FY 2022 sales of approximately €140 million and EBITDA margins of approximately 33 percent, Muon Group will join the Scientific Fluidics & Optics group in IDEX’s Health & Science Technology segment.

The transaction is expected to close in the fourth quarter, subject to regulatory approvals and consultation with the Dutch works council. This acquisition is expected to be funded by IDEX using cash on hand and proceeds from its revolving credit facility.

Use of Non-GAAP Financial Information

IDEX prepares its public financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP). IDEX supplements certain GAAP financial performance metrics with non-GAAP financial performance metrics. Management believes these non-GAAP financial performance metrics provide investors with greater insight, transparency and a more comprehensive understanding of the financial information used by management in its financial and operational decision-making because certain of these non-GAAP metrics exclude items not reflective of ongoing operations. Non-GAAP financial performance metrics should not be considered a substitute for, nor superior to, the financial data prepared in accordance with GAAP. EBITDA is calculated as net income plus interest expense plus provision for income taxes plus depreciation and amortization. EBITDA margin is calculated as EBITDA divided by net sales.

IDEX has not provided a reconciliation of the expected EBITDA or EBITDA margin contribution by Muon Group for FY 2022 because we are unable to quantify certain amounts that would be required to be included in Muon Group’s contribution to net income without unreasonable efforts. In addition, IDEX believes such reconciliation would imply a degree of precision that would be confusing or misleading to investors.

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements regarding the expected benefits of the acquisition of Muon Group, the expected impact of the acquisition on IDEX’s product offerings or proposed product offerings, IDEX’s combined existing and new customers, the enhancement of IDEX’s business strategy, integration plans, the expected growth opportunities and synergies resulting from the acquisition, IDEX’s ability to achieve its targets, the anticipated long term value to IDEX’s shareholders, the projected earnings of the Muon Group and the related impact on IDEX’s earnings, and the expected timing and funding for the closing of the acquisition. These statements are subject to inherent uncertainties and risks that could cause actual results to differ materially from those anticipated at the date of this press release. The risks and uncertainties include, but are not limited to, the following: the impact of health epidemics and pandemics, including the COVID-19 pandemic, and the impact of related governmental actions, on IDEX’s ability to operate its business and facilities, on its customers, on supply chains and on the U.S. and global economy generally; economic and political consequences resulting from terrorist attacks and wars, including Russia’s invasion of Ukraine and the global response to this invasion, which, along with the ongoing effects of the COVID-19 pandemic, could have an adverse impact on IDEX’s business by creating disruptions in the global supply chain and by potentially having an adverse impact on the global economy; levels of industrial activity and economic conditions in the U.S. and other countries around the world, including uncertainties in the financial markets; pricing pressures, including inflation and rising interest rates, and other competitive factors and levels of capital spending in certain industries, all of which could have a material impact on order rates and IDEX’s results; IDEX’s ability to integrate the Muon Group and to acquire, integrate and operate other acquired businesses on a profitable basis; the relationship of the U.S. dollar to other currencies and its impact on pricing and cost competitiveness; political and economic conditions in foreign countries in which IDEX operates; developments with respect to trade policy and tariffs; interest rates; capacity utilization and the effect this has on costs; labor markets; supply chain backlogs, including risks affecting component availability, labor inefficiencies and freight logistical challenges; market conditions and material costs; risks related to environmental, social and corporate governance (“ESG”) issues, including those related to climate change and sustainability; and developments with respect to contingencies, such as litigation and environmental matters. Additional factors that could cause actual results to differ materially from those reflected in the forward-looking statements include, but are not limited to, the risks discussed in the “Risk Factors” section included in IDEX’s most recent annual report on Form 10-K and IDEX’s subsequent quarterly reports filed with the Securities and Exchange Commission (“SEC”) and the other risks discussed in IDEX’s filings with the SEC. The forward-looking statements included here are only made as of the date of this press release, and management undertakes no obligation to publicly update them to reflect subsequent events or circumstances, except as may be required by law. Investors are cautioned not to rely unduly on forward-looking statements when evaluating the information presented here.

About IDEX

IDEX Corporation (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 8,000 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.

Akron Brass & Hale Sponsor Scholarship for Fire Protection Engineering, Administration Program

Company News
August 31, 2022

IDEX Fire & Safety business units Akron Brass and Hale recently partnered with the Fire Apparatus Manufacturers’ Association (FAMA) to sponsor a scholarship for college students in Fire Protection Engineering and Administration programs.

The 2022 Scholarship winner, majoring in Fire Protection Engineering with a minor in civil engineering, was University of New Haven student Andrew Tivadar. Dedicated to protecting the citizens of his hometown, Tivadar is an active member of the Long Hill Fire Department in Trumbull, Connecticut (USA). Tivadar joined the department in December 2017 and now holds the following certifications: Fire I, Fire II, Aerial Operator, and Hazmat Awareness and Operations. He is a Driver/Engineer for the engine and the rescue truck at his station. Recently, Tivadar received the Chief’s Award for Outstanding Dedication to the department and currently serves on their Board of Directors.

To pay for his education, Tivadar currently works as both a small engine mechanic and as a fire protection consultant while maintaining his position on the Dean’s List.

“As leaders in innovative fire suppression products for more than 100 years, we value the importance of education and its role in leading the next generation in shaping the future of the fire and rescue service. Akron Brass and Hale Products are honored to continue our partnership with FAMA and the Phillip L Turner scholarship program. We are thrilled to recognize Andrew Tivadar as this year’s scholarship recipient,” said Brian Houk, Vice President, IDEX Fire & Safety.

Named in honor of Phillip L. Turner, the scholarship was created in 2007 shortly after Philip passed away while serving as President for FAMA. Philip was a major advocate for education and contributed as chairman of FAMA’s Meeting Planning Committee (1998–2004), member of the Board of Directors, secretary and Vice President.

The Phillip L. Turner Scholarship is awarded annually by FAMA and has been sponsored by the Akron Brass Company since 2009.

IDEX Reports Strong Second Quarter Results

News Release
July 26, 2022

IDEX Corporation (NYSE: IEX) today announced its financial results for the three month period ended June 30, 2022.

Second Quarter 2022 Highlights

  • Reported EPS of $1.81, up 35% and record adjusted EPS of $2.02, up 15% vs. Q2 2021
  • Orders of $839 million, up 12% overall and 7% organically vs. Q2 2021
  • Record sales of $796 million, up 16% overall and 12% organically vs. Q2 2021
  • Reported operating margin of 23.4%, up 30 basis points vs. Q2 2021
  • Completed acquisition of KZValve on May 2, 2022
  • Full year GAAP EPS guidance raised to $7.19 to $7.29 from prior guidance of $6.87 to $7.00
  • Full year adjusted EPS guidance raised to $7.88 to $7.98 from prior guidance of $7.50 to $7.63

View full report at: https://investors.idexcorp.com/news-releases/news-release-details/idex-reports-strong-second-quarter-results

IDEX Teams Break Records in Third Food Drive Challenge

Company News
July 25, 2022

IDEX employees worldwide rose up and met the IDEX Foundation challenge, addressing food insecurity in their communities by collecting and donating a combined total of 20.5 tons (18,643 kilograms) of non-perishable foods to local food banks, providing an estimated 34,250 meals* to people in need in the second quarter.

As part of its challenge, the IDEX Foundation also gave $5,000 USD to each of the more than 40 local food banks supported by IDEX business units, resulting in an additional $215,000 in direct assistance to help people in need.

“The entire IDEX Foundation board is absolutely overwhelmed with the generosity of our business units and how well our site coordinators performed leading the food drives, which are helping so many people during these times of high inflation,” IDEX Foundation Board President Derrick Goddard said. “I would like to personally thank each site leader and all the local teams who got behind this effort for their continued commitment to their communities. I received multiple messages of sincere thanks from the food banks our teams supported.”

As part of the IDEX Foundation challenge, business units competed for which site could collect the most food for donation. Business units were divided into three size groups depending on number of employees and collected non-perishable food donations in the second quarter. The winners earned a celebratory team meal on IDEX.

This was the third food insecurity campaign led by the IDEX Foundation since the beginning of the pandemic in 2020.

*Feeding America estimates 1.2 pounds of food equals one meal.

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