IDEX to acquire Mott Corporation for $1B cash to strengthen applied materials science capabilities

IDEX CORP /DE/

Net transaction value ~$900M after $100M PV of expected tax benefits; 19x forecasted 2024 EBITDA (low-20s margin).
Mott expected to generate ~$200M revenue in 2024; deal expected to close by end of Q3 2024 subject to regulatory approvals.
Transaction expected to be accretive to adjusted EPS in fiscal 2026; funded via cash, credit facility, and potential debt.
Mott will join IDEX Health & Science Technologies segment; adds semiconductor, energy transition, medtech, and space/defense exposure.
IDEX expects synergies through 80/20 operating model and commercial growth over three years.

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