IDEX buys Italian seals manufacturer

Milan, Italy – French investment company Adrian announced on 21 April that it had signed an agreement to sell a 96.5 percent stake in Novotema to US-listed industrial company IDEX.

Villongo, Italy-based rubber component manufacturer Novotema produces rubber seals for the automotive, medical, gas control and industrial sectors.

Adrian invested in Novotema in June 2012. The rubber parts company has since improved its positions in key markets and diversified clients since the takeover, said a 21 April press release from the French investment fund.

Based in Illinoise, US, IDEX is a diversified industrial corporation supplying products for fluid and metering, health and science, dispensing, fire and safety equipment.

The 2014 turnover for IDEX was $2 billion, noted the release, stating that the Novotema addition will broaden IDEX’s product offering and strengthen its sealing design and manufacturing capabilities.