IDEX Corporation has acquired FTL Seals Technology, Ltd., a supplier of rotary seals, specialty bearings, and other custom products for the oil & gas, mining, power generation, and marine markets.
Located in Leeds, England, FTL has annual revenues of approximately £15 million. FTL will operate with Precision Polymer Engineering (PPE), acquired in April 2010, within IDEX’s Health and Science Technologies segment. FTL was acquired for cash consideration of approximately £24 million.
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.