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Idex to Acquire Nexsight for USD 120m
Friday 26 November 2021

Illinois-based fluidics systems manufacturer Idex Corp. (NYSE: IEX) has agreed to acquire New Jersey based measuring and controlling device manufacturer Nexsight, LLC and its businesses Envirosight, WinCan, MyTana and Pipeline Renewal Technologies for USD 120m in cash, the company said.

Terms of the transaction were not disclosed.

The transaction is expected to close in 1Q21, subject to regulatory approvals and customary closing conditions.

The acquisition will complement and bolster existing Idex business units iPEK and ADS, which design and create sewer crawlers, inspection and monitoring systems, and software applications that allow teams to identify, anticipate and correct wastewater system issues remotely.

Through the Nexsight acquisition, Idex will expand to include iPEK's key North American channel partner and wastewater video inspection software platform, which would help to broaden the capabilities of ADS's cloud-based wastewater system monitoring and predictive analytics platform.
Date Published: 26/11/2021