IDEX Corp. will acquire CVI Melles Griot

Lake Forest, IL--IDEX Corporation (NYSE:IEX) has announced its intention to acquire CVI Melles Griot (Albuquerque, NM). The companies have entered into a definitive agreement under which IDEX will acquire CVI Melles Griot from Norwest Equity Partners, a leading middle market equity investment firm, for a cash consideration of about $400 million. 

CVI Melles Griot delivers precision photonic solutions to the life sciences, research, semiconductor, security and defense markets. Its products include specialty
lasers and light sources, electro-optical components, opto-mechanical assemblies, including aspheric lenses, laser mirrors, interference filters and polarizers. Its annual reveneus are about $185 million.

CVI Melles Griot will operate within IDEX's Health and Science Technologies segment as a key addition to the optics and photonics platform, which includes 
Advanced Thin Films (ATFilms; Boulder CO), and Semrock, (Rochester, NY).

Commenting on the acquisition, IDEX Chairman and Chief Executive Officer Larry Kingsley stated, "We are thrilled with the opportunity to add CVI to IDEX as the cornerstone to our rapidly expanding optics and photonics platform. CVI is a true leader in the field of high precision optical devices, combining leading edge products, top notch design and manufacturing capabilities with a robust management team and distribution channels that are the envy of the industry. CVI's catalogue and website are industry standards utilized by photonics engineers and scientists around the globe when seeking solutions to their most demanding photonics challenges. CVI will now join ATFilms, acquired earlier this year, and Semrock, acquired in 2008 as part of our optics and photonics platform. We look forward to significant collaboration in key areas of product design and production capabilities as we realize strategic selling and operating synergies. We believe the CVI Melles Griot group, Semrock and ATFilms have precisely the type of enabling technology which binds them to their customer and aligns well with IDEX's growth plans and operating model." 

Speaking on behalf of CVI and Norwest, CVI's Chief Executive Officer, Stuart Schoenmann said, "We are truly excited to see CVI become a part of the IDEX family. IDEX has demonstrated a strong commitment to its Life Sciences business segment and a sustained focus on growing the optics and photonics platform. We are proud to become an integral part of this expansion, and we are very pleased with the opportunity to collaborate with market leaders such as Semrock and ATFilms."

The transaction is subject to regulatory approval and other customary conditions and is expected to close within 30 to 45 days.

For more information visit IDEX online


Posted by: Steve Anderson
Subscribe now to Laser Focus World magazine; It’s free! 
Follow us on Twitter
Join us on Facebook



Most Popular Articles

Webcasts

Femtosecond Lasers – Getting the Photons to the Work Area

Ultrashort-pulse lasers, both picosecond and femtosecond, are now available from a large number of manufacturers, with new players entering the field at a ra...

Ray Optics Simulations with COMSOL Multiphysics

The Ray Optics Module can be used to simulate electromagnetic wave propagation when the wavelength is much smaller than the smallest geometric entity in the ...

Multichannel Spectroscopy: Technology and Applications

This webcast, sponsored by Hamamatsu, highlights some of the photonic technology used in spectroscopy, and the resulting applications.

Handheld Spectrometers

Spectroscopy is a powerful and versatile tool that traditionally often required a large and bulky instrument. The combination of compact optics and modern pa...

Opportunities in the Mid-IR

The technology for exploiting the mid-IR is developing rapidly:  it includes quantum-cascade lasers and other sources, spectroscopic instruments of many...
White Papers

NIST Traceable Spectral Responsivity Calibration of Photodiode Detectors

All Newport optical detectors are recommended for a 12 month recalibration interval. Newport main...

Accurate LED Source Modeling Using TracePro

Modern optical modeling programs allow product design engineers to create, analyze, and optimize ...

Miniature Spectrometers for Narrowband Laser Characterization

In less than 60 years, lasers have transformed from the imagined “ray gun” of science fiction int...
Technical Digests

REMOTE FIBER-OPTIC SENSING: Data in abundance from difficult environments

The use of optical fibers to measure strain, temperature, and other parameters at desired points ...

SCANNERS FOR MATERIALS PROCESSING: Serving demanding applications

Galvanometer-based scanners are an essential component in laser-based materials-processing system...

Click here to have your products listed in the Laser Focus World Buyers Guide.

PRESS RELEASES

SCHOTT and Applied Microarrays Establish Distribution Partnership for NEXTERION® Products

01/22/2013 SCHOTT and Applied Microarrays, Inc. have established a partnership for the distribution of SCHOT...

SCHOTT North America and Space Photonics, Inc. Sign Exclusive Licensing Agreement for Covert Communications Technology

01/22/2013 WASHINGTON, D.C.—October 18, 2012—Space Photonics Inc. and SCHOTT North America, Inc. today annou...
Social Activity
  •  
  •  
  •  
  •  
Copyright © 2007-2015. PennWell Corporation, Tulsa, OK. All Rights Reserved.PRIVACY POLICY | TERMS AND CONDITIONS