Newbury Piret & Co. Represents Isolation Technologies in Its Sale to IDEX Corporation
BOSTON, Oct. 19 /PRNewswire/ -- Newbury Piret & Co., Inc. is pleased to
announce that its client, Isolation Technologies, Inc., a leading developer of
advanced column hardware and accessories for the High Performance Liquid
Chromatography (HPLC) market, has been acquired by IDEX Corporation
(NYSE: IEX). HPLC instruments are used in a variety of analytical chemistry
applications, with primary commercial applications including drug discovery
and quality control measurements for pharmaceutical and food/beverage testing.
Headquartered in Hopedale, MA, Isolation Technologies has annual revenues
of approximately $11 million. Isolation Technologies will be operated as part
of IDEX's Sapphire Engineering business within the company's Health and
Science Technologies segment. The cash consideration was just under $30
million and is expected to be accretive to IDEX's earnings in 2008.
Rick Hersom, cofounder and president of Isolation Technologies stated,
'IDEX Health and Science's world-wide sales force will allow new customer
access and growth.' Cofounder and vice president Michael Rigoli added,
'Isolation Technologies' column hardware platforms are a perfect complement to
IDEX's broad HPLC product portfolio.'
Hugh Taylor, Managing Director of Newbury Piret & Co., commented that
Isolation Technologies is a well managed company that should be an excellent
addition to the Health and Sciences segment of IDEX's business, and should
provide an attractive broadening of that unit's product lines. Alan Fullerton,
Managing Director, further commented that this transaction demonstrates
Newbury Piret's expertise in advising companies in the highly engineered
products space. 'Advising companies which sell high value-added products into
technical end-user markets is a growing area for us both on the M&A and the
equity financing sides of our business. It was a pleasure to work with the
owners and management of Isolation Technologies on this engagement.'
About Isolation Technologies
Isolation Technologies, Inc. operates a full-service facility complete
with research and development, an on-site HPLC lab and state-of-the-art
manufacturing. The company serves a global network of column manufactures from
a variety of industries including pharmaceutical, biotechnology, food &
beverages, proteomics, environmental, and petrochemical sectors. Their
customers benefit from a total solutions approach and dedicated customer
service. For more information, please visit http://www.iso-tech.com.
About IDEX
IDEX Corporation is an applied solutions company specializing in fluid and
metering technologies, health and science technologies, dispensing equipment,
and fire, safety and other diversified products built to its customers'
exacting specifications. Its products are sold in niche markets to a wide
range of industries throughout the world. IDEX shares are traded on the New
York Stock Exchange and the Chicago Stock Exchange under the symbol 'IEX'. For
more information please visit http://www.idexcorp.com.
About Newbury Piret & Co.
Founded in 1981, Newbury Piret & Co., Inc., is a leading New England
investment banking firm providing corporate finance services including M&A,
financing, and valuation services. Headquartered in Boston and independently
owned, Newbury Piret is a FINRA licensed broker dealer focused on middle-
market companies, the private equity community and business owning families.
Newbury Piret is regarded as unique in providing strategic advice in M&A along
with financing capabilities which support acquisitions, growth investments,
and recapitalizations. Newbury Piret is one of New England's Top Investment
Banks in 2006 as ranked by the Boston Business Journal and is a sponsor of
Northeastern University's Center for Family Business. Newbury Piret shares it
observations about the M&A and capital markets through its Capital Markets
Review. For further information, please visit http://www.newburypiret.com or
call (617) 367-7300.
Contact: LaVonna Bowen
Newbury Piret & Co., Inc.
617-367-7300
lbowen@newburypiret.com
SOURCE Newbury Piret & Co., Inc.
