Sector News

IDEX Corporation Signs Agreement to Acquire Novotema

April 21, 2015
Chemical Value Chain
(BUSINESS WIRE) – IDEX CORPORATION announced today that it entered into an agreement to acquire 100% of the outstanding shares of Novotema, SpA, a leader in the design, manufacture and sale of specialty sealing solutions for use in the building products, gas control, transportation, industrial and water markets. The transaction is expected to close within 45 days, pending regulatory approval.
 
Located in Villango, Italy, Novotema has revenues of approximately €30 million and will operate within the IDEX Sealing Solutions group. Novotema was acquired from Ardian, a leading global private equity firm, for a cash consideration of approximately €57 million and is expected to be accretive to IDEX earnings in the first full year after closing.
 
Commenting on the acquisition, IDEX Chairman and Chief Executive Officer, Andy Silvernail stated, “Novotema represents the third acquisition in the global build–out of our rapidly expanding Sealing Solutions group and we believe the company’s key technologies and applications are well suited to accelerate profitable growth within the IDEX operating model.”
 
Source: IDEX

comments closed

Related News

June 3, 2023

Chemours, DuPont, and Corteva reach comprehensive PFAS settlement with U.S. Water Systems

Chemical Value Chain

The Chemours Company (NYSE: CC), DuPont de Nemours, Inc. (NYSE: DD) and Corteva, Inc. (NYSE: CTVA) (the “companies”) today announced they have reached an agreement in principle to comprehensively resolve all PFAS-related drinking water claims of a defined class of public water systems that serve the vast majority of the United States population.

June 3, 2023

Storing hydrogen in coal may help power clean energy economy

Chemical Value Chain

The quest to develop hydrogen as a clean energy source that could curb our dependence on fossil fuels may lead to an unexpected place — coal. A team of Penn State scientists found that coal may represent a potential way to store hydrogen gas, much like batteries store energy for future use, addressing a major hurdle in developing a clean energy supply chain.

June 3, 2023

Soda ash producer WE Soda plans IPO, London share listing

Chemical Value Chain

WE Soda (London), a major producer of soda ash, said it intends to launch an IPO and apply to list its shares on the main market of the London Stock Exchange. The company, wholly owned by industrial conglomerate the Ciner Group (Istanbul, Turkey), said it is the world’s largest producer of natural soda ash.

How can we help you?

We're easy to reach