Idex Corp has bought the Swedish engineering group Velcora Holding AB and its Roplan and Steridose businesses from FSN Capital Partners for a cash consideration of SEK1.28 billion (around US$137 million).
Roplan manufactures custom mechanical and shaft seals for end markets including food & beverage, marine, chemical, wastewater and water treatment. Steridose develops engineered hygienic mixers and valves for the global biopharmaceutical industry. Roplan and Steridose are both headquartered in Sweden, with operations in China, the UK and the US and total revenues of approximately SEK375 million (around US$40 million).
“We welcome Roplan and Steridose to the Idex family of businesses. These companies complement both our Sealing Solutions as well as Health and Sciences platforms well,” said Idex chairman and CEO Andy Silvernail. “In our unique structure, companies retain a great deal of autonomy, while benefitting from the expertise and operating model at IDEX. Roplan and Steridose should flourish as part of our culture, where great teams win together by focusing on the things that matter most, combined with an obsession on solving our customers’ most challenging problems.”
