Idex Corp to acquire Mott Corp in US$1bn deal

Idex Corp has entered into a definitive agreement to acquire Mott Corporation and its subsidiaries for cash consideration of US$1 billion. 

Image: Tim/Adobe Stock.

Mott is a microfiltration business specializing in the design, customization, and manufacturing of sintered porous metal components and engineered solutions used in fluidic applications. Founded in 1959 in Farmington, Connecticut, Mott has approximately 500 employees.

“Mott’s business fits the Idex sweet spot of highly engineered, configurable mission-critical components focused on scalable select applications,” said Eric Ashleman, CEO and president of Idex. “The addition of Mott represents an important step in our evolution, as we continue building our differentiated capabilities in applied materials technologies. Mott brings advanced technical and application expertise that will expand our capabilities in high-value end markets and open new organic growth opportunities.” 

“We’re excited to join an industry leader with a strong record of helping customers solve their toughest problems,” said Boris Levin, president and CEO of Mott. “Mott brings applied material science, chemistry, and application expertise, an additive and complementary customer base, and a growing pipeline of opportunities. When combined with the scale of Idex, industry-leading positions, and deep technological know-how, this will yield meaningful synergies and benefits. Our culture and capabilities align with Idex, and our employees will add tremendous value to the company, just as they’ve driven Mott’s growth for generations.” 

Mott, which is expected to generate approximately US$200 million of revenue in 2024, will join Idex’s Health & Science Technologies segment.