IDEX Corporation (NYSE:IEX) acquired iPEK Spezial-TV, a leading provider of systems focused on infrastructure analysis, specifically waste water collection systems. iPEK, renowned for its quality and versatility, is a leading developer of remote controlled systems for infrastructure inspection. iPEK’s products include a manhole zoom camera system, pan & tilt push camera systems, and robotic crawler systems for pipeline inspection. Headquartered in Hirschegg, Austria, iPEK has annual revenues of approximately €18 million ($25 million USD). iPEK will be operated within IDEX’s Fluid and Metering Technologies segment and is expected to leverage the ADS Environmental Services (‘ADS”) acquisition which closed in January. The cash consideration was approximately €31 million ($43 million USD).
EC M&A acted as exclusive financial advisor to IDEX on this transaction.