The big idea at IDEX is to dispense with inefficiencies and pump up profits. The company, operating through four segments, is a major manufacturer of pumps, dispensing equipment, and other engineered industrial products. Its Fluid & Metering Technologies segment makes pumps, meters, and injectors used in the movement and treatment of industrial chemicals, gases, and water. Its Dispensing unit specializes in paint dispersal and mixing tools that are sold by US and European home retailers. Health & Science produces fluidics components for medical and analytical devices and implantables. IDEX's Fire & Safety unit manufactures clamps, firefighting pumps, and rescue tools, including the branded Jaws of Life.
Key subsidiaries owned by IDEX include Liquid Controls, CVI Laser, Microfluidics, Quadro Engineering, and Band-It-Idex.
As the global economy slowly turns around, IDEX has grown significantly. From 2010 to 2011 total sales were up by nearly 22%, and its profits increased by 23%. IDEX was helped by a 9% increase in organic sales, 11% surge from previous acquisitions, and a 2% spike from favorable foreign currency translations. The increase in net income stems from volume increases, improved productivity, and gains from a facility it sold in Italy.
Despite weakened demand from industrial customers hit by the economic recession, the company is persevering in developing its product portfolio to strengthen its global position. In an effort to gain market share in developing regions, IDEX is intent on growing its Fluid & Metering Technologies (FMT) segment, which accounts for almost half of its revenue, as well as its Health & Science Technologies (HST) segment (part of the IDEX Pharma business). Hot areas of international interest include the BRIC countries (Brazil, Russia, India, and China).
Acquisitions are fundamental to expanding IDEX's product lineup and manufacturing footprint. The company boosted its HST optics and photonics capabilities in 2012 by acquiring Colorado-based Precision Photonics Corporation (PPC) for $20 million and in mid-2011 by purchasing New Mexico-based CVI Melles Griot (CVI) for about $400 million. PPC makes optical components and coatings for applications for such markets as scientific research, aerospace, and telecommunications. CVI makes lasers and light sources and other electro-optical and opto-mechanical components and assemblies.
Earlier in 2011 IDEX bought out Colorado-based Advanced Thin Films for $32 million. Advanced Thin Films added optics design technology as well as an impressive list of customers to the HST segment. Boosting its FMT segment, IDEX in spring 2011 obtained Microfluidics International. The $18.5 million cash-deal added pharmaceutical and chemical equipment for making micro particles. – less