IDEX Acquires Mott Corporation

Farmington-based Mott Corporation has been acquired by Illinois-based IDEX Corporation. 

The companies announced the $1 billion agreement July 23. 

IDEX manufactures components for microchips and products for a range of industries including aerospace, medical, military, waste, and fire safety. 

“We’re excited to join an industry leader with a strong record of helping customers solve their toughest problems,” said Mott president and CEO Boris Levin.

Company officials said the acquisition will expand IDEX’s material science technologies portfolio, help build new customer relationships, and address customer needs. 

Acquisition

The companies expect the deal to close by the end of the third quarter this year.

“Mott brings advanced technical and application expertise that will expand our capabilities in high-value end markets and open new organic growth opportunities,” said IDEX president and CEO Eric Ashelman.

Mott manufacturers semiconductor, medical device, defense, and space exploration equipment.

“The high standards and reliable solutions you have trusted for more than 60 years will not change.”

Mott Corporation’s Boris Levin

Founded in 1959, Mott has approximately 500 employees. 

The company said the acquisition will allow them to better support customers’ needs.

“We want our customers to know that the high standards and reliable solutions you have trusted for more than 60 years will not change,” Mott officials said on social media.

Connecticut Growth

Under the agreement, Mott will become part of IDEX’s Health and Science Technologies segment. 

But the company will continue to operate under its own brand and be led by Levin.

Mott is expected to generate approximately $200 million in revenue in 2024.

Levin has said the company plans to invest tens of millions of dollars in the state in the coming years. 

“Our culture and capabilities align with IDEX, and our employees will add tremendous value to the company.”

Levin

In February, Mott announced plans for a new 65,000 square-foot green hydrogen engineering facility.

That includes plans to hire more than 100 people.

In April, the U.S. Department of Energy awarded the company a $10 million grant to accelerate design and manufacturing of clean energy technology. 

And in May they received a $100,000 state grant to help them adopt new additive technologies and drive innovation.

“Our culture and capabilities align with IDEX, and our employees will add tremendous value to the company, just as they’ve driven Mott’s growth for generations,” said Levin.