Idex to buy Nova Technologies for $158 million to add services

Idex Corp., the Northbrook-based maker of fluid dispensers for orange juice and aviation fuels, agreed to buy Nova Technologies Corp. for $158 million to expand its services for monitoring water and wastewater.

The cash deal will be completed in the fourth quarter of this year and will add to earnings in 2008.

Nova Technologies, a closely held company based in Huntsville, Alabama, makes products that let companies and government agencies measure capacity and quality of wastewater- collection systems, Idex said. It has offices in the U.S. and Australia with yearly sales of about $70 million.

Idex rose 14 cents to $35.45 as of 10:11 a.m. in New York Stock Exchange composite trading, after earlier climbing to $35.90. The stock had gained 12 percent this year before today.