MILAN, Italy—Lake Forest, Ill.-based Idex Corp., which produces fluid systems and components, has signed an agreement to purchase 96.5 percent stake in Novotema S.p.A. from French investment firm Adrian Leeds Group L.L.C.
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 since has improved its positions in key markets and diversified clients since the takeover, according to a news release from the French investment fund.
Idex supplies products for fluid and metering, health and science, dispensing, fire and safety equipment.
Sales in 2014 for Idex was $2 billion. The firm said Novotema addition will broaden its product offering and strengthen its sealing design and manufacturing capabilities.