IDEX Corporation (NYSE:IEX) today completed its previously announced acquisition of Flow Management Devices, LLC (Flow MD), a privately-held provider of flow measurement systems that ensure custody transfer accuracy in the oil and gas industry.
“Adding Flow MD to the IDEX family of businesses extends our expertise in the energy sector, where we already serve refineries, chemical manufacturers and pipeline operators,” IDEX Chairman and CEO Andy Silvernail said. “We welcome all Flow MD employees and customers to IDEX. We look forward to fully integrating the company into our unique values-based culture and operating model.”
Flow MD joins IDEX’s energy group, complementing the pump and metering systems produced by fellow IDEX companies SAMPI, Toptech Systems, Liquid Controls and Corken. Flow MD products are known for their accuracy, repeatability, and reliability, with technology that is liquid and meter agnostic. In addition to its headquarters and manufacturing facilities in Phoenix, Flow MD has offices in Houston and Pittsburgh.
IDEX is a global fluidics leader serving high growth specialized markets. We are best known for our expertise in highly engineered fluidics systems and components, as well as for our expertise in fire and safety products including the Jaws of Life® family of rescue and recovery tools. Our products touch lives every day. Whether it’s a life-saving rescue operation, dispensing fresh juice to a first grader or fueling aircraft, IDEX is a leader in creating enabling technology used in many of the most common everyday activities. For more information, please visit www.idexcorp.com. IDEX shares are traded on the New York Stock Exchange under the symbol “IEX.”