|FOR IMMEDIATE RELEASE||6/11/2001|
|Local Law Firm and its Ancillary Business Join Talents to Complete Sale of Versa-Matic Tool, Inc.|
PITTSBURGH ? June 11, 2001 ? DKW Law Group LLC and its ancillary business, DKW Capital Markets LLC, forged new territory by providing both legal and business guidance in the sale of their client's business, Versa-Matic Tool, Inc., which is headquartered in Export, Pennsylvania, and has annual sales of approximately $20 million. Versa-Matic is a leading manufacturer and distributor of air-operated double diaphragm pumps and pump replacement parts. The acquisition of Versa-Matic Tool, Inc., by IDEX Corporation (NYSE: IEX) was announced by Dennis K. Williams, Chairman, President and Chief Executive Officer of IDEX, William F. Versaw, founder and President of Versa-Matic Tool, Inc., and Christer Berg, Chairman of Eletta International AG, the principal shareholder of Versa-Matic Tool, Inc.
"When [Billtarget="_5D96A90B238B9D2685256E24004E69C1"> Versaw advised us of his interest in selling Versa-Matic, we were able to offer him the services of our investment banking firm, DKW Capital Markets, LLC, in marketing the business, identifying potential suitors and assisting in negotiating and closing the transaction," explained Leo A. Keevican, Jr., Managing Director of DKW Law Group. "This was a perfect demonstration of how our organization can effectively provide one-stop solutions to our clients."
Versaw, who will become president of IDEX's air-operated double diaphragm pump businesses at Warren Rupp, Versa-Matic, Blagdon and Pumper Parts, was also pleased with the process and the outcome of the transaction. "It was incredibly efficient to use both the legal and investment banking services of two companies under the same roof. DKW Capital Markets played a critical role in successfully completing the sale of Versa-Matic. Our future looks very promising as IDEX's worldwide presence gives us added financial and market strength to pursue our growth prospects."
DKW Law Group is a leader in the development of ancillary practices to serve clients' legal and business needs. Through the firm's ancillary services groups ? DKW Capital Markets, DKW Value Recovery LLC, Renaissance Partners, FiCap Strategic Partners and Concord Health Partners ? clients receive the legal, investment banking and business consulting services they need to position their businesses for the future. Further information on Versa-Matic, IDEX Corporation, DKW Law Group LLC, and DKW Capital Markets can be found at these Web sites: Versa-Matic, IDEX Corporation, DKW Law Group LLC.