IDEX Corporation acquired Manfred Vetter GmbH for $44.8 million, structured as All-cash, financed by borrowings under the Credit Facility.
Manfred Vetter GmbH operates in Other Engineered Products Group (Hale Products business unit). In January 2004 IDEX acquired Manfred Vetter GmbH of Zulpich, Germany, a designer and manufacturer of pneumatic lifting and sealing bags for vehicle and aircraft rescue, environmental protection, industrial maintenance, and disaster recovery and control. Vetter was operated as part of the Hale business unit.
Expanded IDEX's Hale rescue-tools platform into pneumatic lifting and sealing systems for fire, rescue and disaster-recovery markets.
IDEX acquired Vetter, Systec, Scivex and Dinglee for a purchase price of $44,813, $22,442, $98,553 and $4,106, respectively, with financing provided by borrowings under the Credit Facility.IDEX Corporation, 2004 Form 10-K (Exhibit 13, Note 11. Acquisitions)
Advisory firms were not disclosed for this transaction.