IDEX to Acquire CVI for $400M

IDEX Corporation IEX announced today that it has entered into a definitive agreement to acquire CVI Melles Griot, from Norwest Equity Partners. CVI produces critical enabling products for demanding applications such as spectroscopy, cytometry, remote sensing, target designation and interferometry. Headquartered in Albuquerque, New Mexico, with manufacturing sites located on three continents, CVI has annual revenues of approximately $185 million. CVI will operate within IDEX's Health and Science Technologies segment as a key addition to the optics and photonics platform. With cash consideration of approximately $400 million, CVI is expected to be accretive to IDEX's earnings within the first full year after acquisition.