Reed Smith represented Nexsight in the transaction.
As part of the definitive agreement, IDEX will acquire Nexsight’s market-leading businesses, including Envirosight, WinCan, MyTana, and Pipeline Renewal Technologies, for cash consideration of $120 million, subject to customary post-closing adjustments.
The acquisition will complement and bolster existing IDEX business units iPEK and ADS, which design and create sewer crawlers, inspection and monitoring systems, and software applications that allow teams to identify, anticipate and correct wastewater system issues remotely.
The deal is expected to close in the first quarter of 2022.
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