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IDEX (IEX) Inks Deal to Acquire Netherlands-Based Muon Group
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IDEX Corporation (IEX - Free Report) has entered into an agreement to acquire Netherlands-based micro-precision solution provider Muon Group. The transaction is valued at €700 million in cash.
The acquisition will expand IDEX’s growing platform of precision technology business within the Health & Science Technologies segment. Commercial synergy potential from the combined entities is expected to boost offerings for new and existing customers. The combination of similar business structures should provide IEX a strong base for growth through innovation.
Muon is expected to generate sales of approximately €140 million in 2022 and EBITDA margin of approximately 33%. The company will be part of IDEX’s Scientific Fluidics & Optics group within the Health & Science Technology segment.
Subject to regulatory approvals, the transaction is expected to close in the fourth quarter of 2022. IEX will fund the buyout using cash on hand and proceeds from its revolving credit facility.
IDEX’s measures to expand its product portfolio through acquisitions should drive its top-line growth. In May 2022, IEX completed the acquisition of KZValve. The inclusion of KZValve’s expertise in waterproof motorized valve solutions, supported by its strong product portfolio and innovative capabilities will boost fluid management solutions in IDEX’s Banjo Corporation business.
In March 2022, IDEX acquired Nexsight, LLC and its WinCan, Envirosight, MyTana and Pipeline Renewal Technologies businesses. Acquired assets boosted the company’s sales by 7% in the second quarter of 2022. The company anticipates buyout synergies to boost sales by 5% for the third quarter and 4% for 2022.
Zacks Rank & Key Picks
IDEX currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks within the broader Industrial Products sector are as follows:
Lindsay has an estimated earnings growth rate of 45% for the current year. Shares of the company have rallied 8% in the past six months.
Greif, Inc. (GEF - Free Report) presently carries a Zacks Rank #2 (Buy). GEF delivered a trailing four-quarter earnings surprise of 22.4%, on average.
Greif has an estimated earnings growth rate of 43% for the current year. Shares of the company have gained 12.8% in the past six months.
Valmont Industries (VMI - Free Report) presently carries a Zacks Rank #2. VMI pulled off a trailing four-quarter earnings surprise of 13.7%, on average.
Valmont Industries has an estimated earnings growth rate of 26.9% for the current year. Shares of the company have gained 22.3% in the past six months.
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IDEX (IEX) Inks Deal to Acquire Netherlands-Based Muon Group
IDEX Corporation (IEX - Free Report) has entered into an agreement to acquire Netherlands-based micro-precision solution provider Muon Group. The transaction is valued at €700 million in cash.
The acquisition will expand IDEX’s growing platform of precision technology business within the Health & Science Technologies segment. Commercial synergy potential from the combined entities is expected to boost offerings for new and existing customers. The combination of similar business structures should provide IEX a strong base for growth through innovation.
Muon is expected to generate sales of approximately €140 million in 2022 and EBITDA margin of approximately 33%. The company will be part of IDEX’s Scientific Fluidics & Optics group within the Health & Science Technology segment.
IDEX Corporation Price
IDEX Corporation price | IDEX Corporation Quote
Subject to regulatory approvals, the transaction is expected to close in the fourth quarter of 2022. IEX will fund the buyout using cash on hand and proceeds from its revolving credit facility.
IDEX’s measures to expand its product portfolio through acquisitions should drive its top-line growth. In May 2022, IEX completed the acquisition of KZValve. The inclusion of KZValve’s expertise in waterproof motorized valve solutions, supported by its strong product portfolio and innovative capabilities will boost fluid management solutions in IDEX’s Banjo Corporation business.
In March 2022, IDEX acquired Nexsight, LLC and its WinCan, Envirosight, MyTana and Pipeline Renewal Technologies businesses. Acquired assets boosted the company’s sales by 7% in the second quarter of 2022. The company anticipates buyout synergies to boost sales by 5% for the third quarter and 4% for 2022.
Zacks Rank & Key Picks
IDEX currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks within the broader Industrial Products sector are as follows:
Lindsay Corporation (LNN - Free Report) currently sports a Zacks Rank #1 (Strong Buy). LNN pulled a trailing four-quarter earnings surprise of 25.6%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
Lindsay has an estimated earnings growth rate of 45% for the current year. Shares of the company have rallied 8% in the past six months.
Greif, Inc. (GEF - Free Report) presently carries a Zacks Rank #2 (Buy). GEF delivered a trailing four-quarter earnings surprise of 22.4%, on average.
Greif has an estimated earnings growth rate of 43% for the current year. Shares of the company have gained 12.8% in the past six months.
Valmont Industries (VMI - Free Report) presently carries a Zacks Rank #2. VMI pulled off a trailing four-quarter earnings surprise of 13.7%, on average.
Valmont Industries has an estimated earnings growth rate of 26.9% for the current year. Shares of the company have gained 22.3% in the past six months.