Northbrook-based Idex Corp. will acquire Microfluidics International Corp., a maker of equipment used by pharmaceutical and chemical companies to make tiny materials, for about $14 million.
The acquisition will become part of Idex’s fluid-metering segment, which has been a bright spot for the company. Idex makes industrial pumps and valves as well as such products as the Jaws of Life rescue equipment used to extricate victims from small spaces such as wrecked cars. It’s results have been improving as orders rebound.
Idex will pay $1.35 in cash for each Microfluidics share, which it said represents a 69 percent premium to the stock’s average price during the 30 days through Monday. Microfluidics trades on the over-the-counter market.
Idex expects the deal to add to earnings in 2011. Microfluidics had $16 million in revenue last year, compared with the suitor’s 2009 sales of $1.33 billion.
Idex shares closed Monday at $38.70 and were inactive premarket. The stock has gained 20% over the past year.
