IDEX Corporation acquired Sponsler Co., Inc. for $10.3 million, structured as All-cash, financed by borrowings under the Credit Facility.
Sponsler Co., Inc. operates in Pump Products Group (Liquid Controls business unit). In June 2003 IDEX acquired Sponsler Co., Inc., headquartered in Westminster, South Carolina, a manufacturer of precision turbine flow meters for a wide range of flow applications, including low-flow and situations involving viscosity, corrosive media, extreme temperature or hazardous materials. Sponsler was operated as part of Liquid Controls.
Broadened the Liquid Controls flow-measurement product line with precision turbine flow-meter technology.
IDEX acquired Sponsler and Classic for a purchase price of $10,251 and $3,703, 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.