Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
Richter Chemie-Technik GmbH
Sale to IDEX Corporation
Baird served as the exclusive financial advisor to The Riverside Company.
Richter Chemie-Technik GmbH ("Richter" or the "Company"), a portfolio company of The Riverside Company ("Riverside") has been acquired by IDEX Corporation ("IDEX") (NYSE: IEX) for a cash consideration of approximately €71 million.
Richter is a leading provider of premium quality lined pumps, valves and associated spares and services to the chemical, fine chemical and pharmaceutical chemical industries. The Company holds a leading position in fluoro-polymer lined pumps and valves for handling highly corrosive or abrasive fluids or those requiring a high degree of purity. Richter is headquartered in Kempen, Germany and achieved 2007 sales of approximately €37 million. The Company employs globally more than 250 people, has manufacturing sites in Germany and China, and operates a service center for the USA. Richter was formerly acquired by Riverside in January 2006.
IDEX is a diversified manufacturer of engineered products serving high-growth niche markets. Its business is specialized in fluid and metering technologies, health and science technologies, dispensing equipment, and fire safety. In 2007, IDEX employed over 5,000 people and achieved in its Fluid and Metering Technology business sales of $570 million and total sales of $1.4 billion.
Baird served as the exclusive financial advisor to The Riverside Company on this transaction. The Baird team included Nick Sealy, Michael Wolff, Markus Kessler and Tahs Siddique.