Idex Buys Cidra For $19.5 Mln, Plus Milestones

(RTTNews) - Idex Corp (IEX), a maker of fluidic systems and specialty engineered products, on Wednesday announced the acquisition of Cidra Precision Services LLC, a maker of microfluidic components serving the life science, health and industrial markets.

Cidra was acquired for a cash consideration of $19.5 million with an earn-out up to $5.5 million contingent on the achievement of financial objectives in the 12-month period following closing. The deal is expected to be accretive to Idex earnings in the first full year after closing.

Located in Wallingford, CT, Cidra has revenues of about $9 million and will operate in Idex's Scientific Fluidics platform, and as part of the Health & Science Technologies segment.