IDEX uses revolver borrowings to fund acquisition of STC

By Marisa Wong

Los Angeles, Dec. 15 – IDEX Corp. used proceeds from its revolving credit facility, along with cash on hand, to fund its acquisition of STC Material Solutions, according to a press release.

IDEX purchased STC from Artemis for a cash consideration of $206 million. The company announced completion of the acquisition on Friday.

STC designs and manufactures technical ceramics and hermetic sealing products for extreme, mission-critical applications. The company has headquarters in St. Albans, Vt., and operations in Santa Ana, Calif.

Northbrook, Ill.-based IDEX develops, designs and manufactures fluidics systems, optics systems, fire and rescue equipment and other specialty engineered products and mission-critical components.

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