Acquisition enhances Emerson's intelligent devices portfolio
with innovative ultrasonic technology
ST.
LOUIS, Aug. 16, 2023 /PRNewswire/ -- Emerson
(NYSE: EMR) today announced a definitive agreement to acquire
FLEXIM Flexible Industriemeßtechnik GmbH ("Flexim"), a global
leader in clamp-on ultrasonic flow measurement for liquids, gases
and steam.

Headquartered in Berlin,
Germany, Flexim brings highly differentiated, complementary
technology and strong customer relationships to Emerson, with an
installed base of more than 100,000 flowmeters, as well as
approximately 450 employees. Flexim provides highly accurate,
low-maintenance clamp-on ultrasonic flow measurement technology for
a broad range of attractive end markets, including chemical, water
& wastewater, life sciences, food & beverage, and power
generation. The transaction will expand Emerson's automation
portfolio and measurement capabilities, complementing its existing
flow measurement positions in Coriolis, differential pressure,
magmeter and vortex flow measurement. Underpinned by favorable end
market growth and technology leadership, the global ultrasonic
clamp-on flowmeter market is expected to grow in the high single
digits annually longer-term. Upon the close of the transaction,
Flexim's Berlin headquarters is
planned to become Emerson's Ultrasonic Flow Measurement Center of
Excellence.
"We are excited to further enhance Emerson's capabilities with
the addition of Flexim's leading clamp-on ultrasonic measurement
technology, which is a strong complement to our intelligent devices
portfolio," said Ram Krishnan, chief operating officer of Emerson.
"Flexim brings an exciting new technology that will enable us to
accelerate growth. The combination of Emerson's comprehensive
measurement suite and Flexim's innovative technology will enhance
the value we bring to customers across a variety of industries. We
look forward to welcoming Flexim's skilled and dedicated employees
to Emerson, where they will continue to play a critical role in
driving the success of the business."
"We are thrilled to be joining Emerson, which shares our culture
of innovation and focus on technology and R&D," said
Jens Helpert, chief executive
officer and co-founder of Flexim. "This transaction will enable us
to provide more comprehensive solutions to a broader set of
customers, leveraging Emerson's global intelligent devices
leadership and commercial excellence. As we join forces with
Emerson, we will continue to serve our customers and utilize our
combined capabilities to solve essential measurement needs."
The transaction is expected to close by the end of Emerson's
fiscal 2023, subject to customary closing conditions. Flexim is
expected to be accretive to Emerson's sales growth, gross margins
and adjusted EBITA margins. Terms of the transaction were not
disclosed. Flexim will be reported in Emerson's Measurement &
Analytical segment.
For the transaction, Evercore is serving as financial advisor
and Freshfields Bruckhaus Deringer LLP is serving as legal
advisor.
About Emerson
Emerson (NYSE: EMR) is a global
technology and software company providing innovative solutions for
the world's essential industries. Through its leading automation
portfolio, including its majority stake in AspenTech, Emerson helps
hybrid, process and discrete manufacturers optimize operations,
protect personnel, reduce emissions and achieve their
sustainability goals. For more information,
visit Emerson.com.
Forward-Looking and Cautionary Statements
Statements
in this press release that are not strictly historical may be
"forward-looking" statements, which involve risks and
uncertainties, and Emerson undertakes no obligation to update any
such statements to reflect later developments. These risks and
uncertainties include the Company's ability to successfully
complete on the terms and conditions contemplated, and the
financial impact of, the proposed National Instruments transaction,
the scope, duration and ultimate impacts of the COVID-19 pandemic
and the Russia-Ukraine conflict, as well as economic and
currency conditions, market demand, including related to the
pandemic and oil and gas price declines and volatility, pricing,
protection of intellectual property, cybersecurity, tariffs,
competitive and technological factors, inflation, among others, as
set forth in the Company's most recent Annual Report on Form 10-K
and subsequent reports filed with the SEC.
Contacts
Investors
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Media
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Colleen
Mettler
|
Joseph Sala / Tanner
Kaufman / Greg Klassen
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(314)
553-2197
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Joele Frank, Wilkinson
Brimmer Katcher
|
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(212)
355-4449
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SOURCE Emerson