IDEX Corporation acquired Banjo Corporation for $184.5 million (purchase price), a transaction completed in October 2006, structured as all cash (debt-financed).
Banjo Corporation operates in Fluid & Metering Technologies, is based in Crawfordsville, Indiana, USA, had revenue of about approximately $44 million annual revenue. Provider of special purpose, severe duty pumps, valves, fittings and systems used in liquid handling; products serve agricultural and industrial applications. Based in Crawfordsville, Indiana.
Adds a leader in agricultural and industrial liquid handling; operated as a stand-alone business in FMT and later anchored IDEX's agriculture platform (complemented by KZValve).
Fluid & Metering Technologies segment (stand-alone business)
Advisory firms were not disclosed for this transaction.