IDEX Corporation Completes Acquisition of Versa-Matic Tool, Inc.

07.06.2001

NORTHBROOK, Ill., June 6 /PRNewswire/ -- Dennis K. Williams, chairman, president and chief executive officer of IDEX Corporation, William F. Versaw, founder and president of Versa-Matic Tool, Inc., and Christer Berg, managing director of Eletta International AG (Versa-Matic's principal shareholder) today announced Versa-Matic has been acquired by IDEX.

Also included in this transaction are affiliated entities Dominator Pump AB and Pumper Parts LLC.

Versa-Matic will function as a part of IDEX's Warren

Rupp business unit. Terms of this cash transaction were not disclosed.

Headquartered in Export, Pennsylvania, Versa-Matic has annual sales of

approximately $20 million. It is a leading manufacturer and distributor of

air-operated double diaphragm pumps and pump replacement parts. Its products

are used primarily in the food processing, brewing, pharmaceutical, paint

manufacturing, water treatment, pulp and paper and printing markets.

Williams said, "We are delighted that Versa-Matic has become part of IDEX.

This strategic acquisition will strengthen our position in the air-operated

double diaphragm pump and replacement parts market. We also are very happy

that Bill Versaw will become president of Warren Rupp. Under Bill's proven

leadership, we will leverage the combined strengths of IDEX's air-operated

double diaphragm pump businesses at Warren Rupp, Versa-Matic, Blagdon and

Pumper Parts to provide the best products and services to our distributors and

customers."

Versaw said, "The combination of these great brands and distribution will

give us the best potential to satisfy customers around the world. I'm excited

to head this new organization and to pursue our significant growth

opportunities."

Robert K. Brinley, who recently was named president of Warren Rupp, will

work closely with Versaw during this management transition, and then become

president of Fluid Management-Americas in Wheeling, Illinois, effective

August 1.

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