IDEX Corporation Acquires Velcora Holding AB
July 18, 2019
IDEX Corporation (NYSE:IEX) today announced the acquisition of Velcora Holding AB and its Roplan and Steridose businesses from FSN Capital Partners for cash consideration of 1.28 billion Swedish kronor (~$137 million).
Roplan is a global manufacturer of custom mechanical and shaft seals for a variety of end markets including food & beverage, marine, chemical, wastewater and water treatment. Steridose develops engineered hygienic mixers and valves for the global biopharmaceutical industry. Both companies are headquartered in Sweden, with operations in China, the United Kingdom and the United States. Total revenues are approximately 375 million Swedish kronor (~$40 million).
“We welcome Roplan and Steridose to the IDEX family of businesses. These companies complement both our Sealing Solutions as well as Health and Sciences platforms well,” IDEX Chairman and CEO Andy Silvernail said. “In our unique structure, companies retain a great deal of autonomy, while benefitting from the expertise and operating model at IDEX. Roplan and Steridose should flourish as part of our culture, where great teams win together by focusing on the things that matter most, combined with an obsession on solving our customers’ most challenging problems.”