IDEX Corporation acquired ADS, LLC (formerly Nova Technologies Corporation) for approximately $156-160 million (cash), a transaction completed in January 2008, structured as all cash.
ADS, LLC (formerly Nova Technologies Corporation) operates in Fluid & Metering Technologies (Water), is based in Huntsville, Alabama, USA, had revenue of about approximately $70 million annual revenue. Leading provider of metering technology and flow monitoring services for the water and wastewater markets. Headquartered in Huntsville, Alabama, with regional sales and service offices throughout the United States and Australia.
Expands IDEX's position in water/wastewater metering and monitoring; later leveraged by the iPEK and IETG acquisitions.
Water reporting unit within the Fluid & Metering Technologies segment
Advisory firms were not disclosed for this transaction.