IDEX Corporation, a global leader in fluidics and metering technologies, has agreed to acquire STC Material Solutions, a maker of technical ceramics and hermetic sealing products, from Artemis for $206m.
The deal will enhance IDEX’s material science capabilities and create synergies with its other critical components businesses. It will also support IDEX’s growth strategy of focusing on highly-engineered products that command a premium.
STC, based in Vermont and California, serves customers in the semiconductor, aerospace and defense, industrial technology, medical technology, and energy sectors. It is expected to generate $50m in revenue in 2024 and join IDEX’s Health & Science Technologies segment.
The transaction is expected to close by late-2023, subject to regulatory approvals. IDEX will fund the acquisition using cash on hand and its revolving credit facility.
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