IEX - IDEX Corp: A Best-Of-Breed Process Tech Player
The CEO of one of the med-tech companies I covered as an analyst was fond of saying, “The bigger they are, the harder they hit,” when explaining why he steered his company into defensible niches largely ignored by large players, and that is largely the approach taken by IDEX (IEX) in its process technologies business. Despite competing in a wide range of “typical” process industry end-markets, IDEX has focused on pumps, meters, precision fluidics, dispensing equipment, and clamps that occupy highly-defensible, mission-critical slots in segments that don’t attract competitive attention from mega-cap rivals.