IDEX Corporation acquired Mott Corporation for $982.0 million (cash, net of cash acquired); ~$1 billion announced, a transaction completed in September 2024, structured as all cash.
Mott Corporation operates in Health & Science Technologies (Scientific Fluidics & Optics), is based in Farmington, Connecticut, USA, had revenue of about ~19x forecasted FY2024 EBITDA (per announcement). Leading microfiltration business specializing in the design, customization and manufacturing of sintered porous metal components and engineered solutions used in fluidic applications. Headquartered in Farmington, Connecticut.
Enhances ability to deliver innovative, customized and highly technical micro-precision solutions; increases opportunities in semiconductor wafer fab equipment, energy transition, medical technologies, space & defense, and water purification.
Complements integration of Muon Group, Iridian Spectral Technologies, and STC Material Solutions; process-based capabilities working with specialized materials. Scientific Fluidics & Optics reporting unit within the HST segment
The addition of Mott supports our strategy to deliver long-term, compounding value to our customers, employees, and shareholders, which includes targeted inorganic growth funded by strong cash flow generation.Eric D. Ashleman, Chief Executive Officer and President, IDEX
Advisory firms were not disclosed for this transaction.