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IDEX Corporation completed its acquisition of Airtech Group, Inc. and US Valve Corporation from EagleTree Capital, adding vacuum pumps, blowers, compressors and valves to its Health & Science Technology segment.
IDEX Corp entered a definitive agreement to acquire Airtech Group Inc and US Valve Corp and related entities from funds managed by EagleTree Capital for $470 million in cash. The deal was reported on 1 April 2021.
Airtech Inc. acquired Champion Valves Inc. and Valve & Pump Specialties Inc. in early September 2019 to complement its US Valve subsidiary. Champion, based in Wilmington, North Carolina, makes industrial check and butterfly valves.
Airtech Group, a portfolio company of EagleTree Capital, acquired Champion Valves Inc. and Valve & Pump Specialties, Inc., designers and distributors of industrial check and butterfly valves, in July 2019.
EagleTree Capital, on behalf of EagleTree Partners IV, acquired a majority stake in Rutherford, New Jersey-based Airtech Group, a maker of vacuum pumps, blowers, compressors and valves, from founder Tom Latsos and other management. Terms were not disclosed.
