IDEX Corporation acquired FTL Seals Technology, Ltd. for approximately $22.5 million (GBP 15.0M), a transaction completed in March 2013, structured as all cash (stock acquisition).
FTL Seals Technology, Ltd. operates in Health & Science Technologies (Sealing Solutions), is based in Leeds, England, had revenue of about approximately $22.5 million annual revenue. Specializes in the design and application of high integrity rotary seals, specialty bearings, and other custom products for the oil & gas, mining, power generation, and marine markets. Located in Leeds, England.
Health & Science Technologies segment (Sealing Solutions group, with PPE)
On March 18, 2013, the Company acquired the stock of FTL Seals Technology, Ltd (“FTL”). FTL specializes in the design and application of high integrity rotary seals, specialty bearings, and other custom products.
Advisory firms were not disclosed for this transaction.