IDEX acquires Alfa Valvole
IDEX Corp. has acquired Alfa Valvole, an expert in the design, manufacture and sale of specialty valve products used in the chemical, petrochemical, energy and sanitary markets.
Located in Casorezzo, Italy, Alfa has revenues of approximately €30 million and will operate within the IDEX Fluid and Metering Technologies segment. Alfa was acquired for approximately €102 million and is expected to be accretive to IDEX earnings in the first full year after closing.
Commenting on the acquisition, IDEX chairman and CEO Andy Silvernail stated: 'Alfa is the fifth acquisition in our rapidly expanding specialty valve platform. The company's products, technology, brand and installed customer base are an excellent fit with the IDEX business model. We look forward to Alfa joining IDEX and we are excited about our joint global growth prospects going forward.'