LAKE FOREST, Ill.--(BUSINESS WIRE)--IDEX CORPORATION (NYSE:IEX) today announced the sale of its Ismatec product line to Cole–Parmer Instruments Company, a leading global source of laboratory and industrial fluid handling products, instrumentation, equipment, and supplies, for approximately $28.0 million. The Ismatec products were part of the Scientific Fluidics Platform and generated revenues of approximately $13M in 2014.
“The sale of the Ismatec product line is consistent with our strategic objectives and our focus on core business and customers.” IDEX Chairman and Chief Executive Officer Andy Silvernail stated.
IDEX Corporation is an applied solutions company specializing in fluid and metering technologies, health and science technologies, and fire, safety and other diversified products built to its customers’ exacting specifications. IDEX Corporation has annual revenues in excess of $2 billion and sells its products in niche markets to a wide range of industries throughout the world. IDEX shares are traded on the New York Stock Exchange and Chicago Stock Exchange under the symbol “IEX”.