IDEX Corp. Acquires Nova Technologies

IDEX Corp. (NYSE: IEX) announced Nov. 14 it has entered into a definitive agreement to acquire Nova Technologies Corp. (NTC), aleading provider of metering technology and flow monitoring servicesfor the water and wastewater markets.

ADS LLC is a wholly owned subsidiary of NTC. NTC develops products andprovides comprehensive integrated solutions that enable industry,municipalities and government agencies to analyze and measure thecapacity, quality and integrity of wastewater collection systems.

This essential process of flow monitoring and measurement plays adetermining role in the upgrade of municipalities’ wastewaterinfrastructure. Headquartered in Huntsville, Ala., with regional salesand service offices throughout the United States and Australia, NTC hasannual revenues of approximately $70 million.
Commenting on the acquisition, IDEX chairman and CEO Larry Kingsleystated, “We are extremely pleased with NTC’s decision to become part ofIDEX.  NTC is a recognized leader in the flow monitoring and meteringproducts and services supporting the growing water and wastewatermarkets. NTC’s expertise in flow measurement solutions enables thecontinued enhancement of our market-based water platform within thefluid and metering technologies segment.” 

NTC president, Karl Boone stated, “We are excited to become part ofIDEX and its fluid and metering technologies segment. IDEX is arecognized leader in applied engineered solutions, with brandrecognition in the water and wastewater markets. We will now have aglobal footprint, as well as the support for a broader technologyplatform, which will enable us to help our customers comply with theever increasing regulations which continue to drive our business.”

IDEX Corp. is an applied solutions company specializing in fluid andmetering technologies, health and science technologies, dispensingequipment, and fire, safety and other diversified products built to itscustomers’ exacting specifications.