IDEX Corporation Completes Acquisition of Liquid Controls, L.L.C.
NORTHBROOK, Ill., Jan. 10 /PRNewswire/ -- Dennis K. Williams, chairman, president and chief executive officer of IDEX Corporation, and Fred G. Wacker III, president and principal shareholder of Liquid Controls, L.L.C., today announced the acquisition of Liquid Controls by IDEX. Liquid Controls is headquartered in Lake Bluff, Illinois, and has joint ventures in Italy and India. Liquid Controls becomes IDEX's 12th stand-alone business and will be operated as part of its Pump Products Group. Terms of this cash transaction were not disclosed.
Liquid Controls has annual sales of approximately $50 million. It is a leading manufacturer of positive displacement flow meters, electronic registration and process control systems. Its products are used primarily in mobile and stationary metering installations for wholesale and retail distribution of petroleum and LP gas, aviation refueling, and industrial liquids and gas metering and dispensing.
Wacker said, "Liquid Controls has a great deal in common with several of IDEX's business units, and we're leased to see the people at our company become part of an industry leader in the fluid handling business. We believe the combination of our companies will be good for everyone involved."
Williams added, " Liquid Controls is a very well run business that meets IDEX's acquisition criteria. It has a leading worldwide market position, is nicely profitable, and has an excellent management team. Most importantly, Liquid Controls serves many of the same markets and uses many of the same distributors as a number of IDEX's Pump Products Group business units. We recognize the significant contributions the employees of Liquid Controls have made to its success, and are pleased that Mr. Wacker will continue to lead this business."
Source: IDEX Corporation