IDEX Corp., a global fluidics company, recently completed its $125 million acquisition of Flow Management Devices, LLC (Flow MD), a provider of flow measurement systems that ensure custody transfer accuracy in the oil and gas industry.
Flow MD is headquartered in Phoenix, Ariz., and has offices in Pittsburgh and Houston. Founded in 2007, the company offers 12 different sizes of small-volume provers that can analyze up to 24,500 gallons per minute, and its components can be customized. Annual sales total approximately $60 million.
“Adding Flow MD to the IDEX family of businesses will extend our expertise in providing highly engineered solutions to energy customers, including refineries, chemical manufacturers, and pipeline operators,” IDEX Chairman and CEO Andy Silvernail said. “In our unique structure, companies retain a great deal of autonomy, while benefitting from the expertise and operating model at IDEX. Flow MD should flourish as part of our culture, where great teams win together by focusing on the things that matter most, combined with an obsession for solving our customers’ most challenging problems.”
Flow MD joins IDEX’s energy group. Its products, designed to withstand temperature and other changes, will complement pump and metering systems produced by other IDEX companies Corken, Liquid Controls, SAMPI, and Toptech Systems.