Emerson today announced that it has entered into a definitive agreement to acquire FLEXIM Flexible Industriemeßtechnik GmbH (“Flexim”), a global leader in clamp-on ultrasonic flow measurement for liquids, gases and vapors.
Flexim is headquartered in Berlin, Germany, with a total installed base of over 100,000 flow meters and approximately 450 employees. The addition of Flexim brings highly differentiated and complementary technologies and strong customer relationships to Emerson. Flexim provides high-precision, low-maintenance clamp-on ultrasonic flow measurement technology serving a wide range of attractive end markets, including chemicals, water and wastewater, life sciences, food and beverage, and power generation. The deal will expand Emerson's automation portfolio and strengthen measurement capabilities, adding to existing capabilities in Coriolis, differential pressure, magnetic and vortex flow measurement. The global clamp-on ultrasonic flow meter market is expected to grow at a high single-digit annual rate in the long term, driven by favorable end market growth and technology leadership. After the transaction is completed, Flexim's Berlin headquarters plans to become Emerson's center of excellence for ultrasonic flow measurement.
Subject to customary closing conditions, the transaction is expected to close by the end of Emerson's fiscal 2023. Flexim is expected to be accretive to Emerson's sales growth, gross margin and adjusted earnings before income taxes. Terms of the deal were not disclosed. Flexim will be reported within Emerson's Measurement and Analytics business.
Evercore served as financial advisor and Freshfields Bruckhaus Deringer LLP served as legal advisor on the transaction.
