IDEX Corporation IEX recently entered into a contract to acquire Abel Pumps, L.P., and its affiliates from Hillenbrand, Inc. HI. The deal, which is expected to be completed in first-quarter 2021 subject to certain regulatory approvals, is valued at $103.5 million in cash. IDEX’s shares gained 0.8% yesterday to eventually close the trading session at $208.57.Büchen, Germany-based, Abel Pumps is engaged in designing and manufacturing engineered reciprocating positive displacement pumps. Notably, the company is well known for manufacturing diaphragm, solids handling, high pressure and marine pumps. Abel Pumps’ products are used in several end markets, including power, mining, water, marine and wastewater.Details of BuyoutThe buyout will enable IDEX to leverage Abel Pumps’ strong expertise in pump solutions, which will help it in further strengthening its position in the pump manufacturing industry. In addition, the acquisition is likely to expand IDEX’s customer base for its products apart from improving its ability to solve customers’ complex fluids challenges. It’s worth noting here that, Abel Pumps will be part of IDEX’s Fluid and Metering Technologies business segment.Other Inorganic MovesThe latest transaction is in sync with IDEX’s policy of acquiring businesses for expanding its market share, product offerings and customer base. In 2019, the company added Velcora Holding AB with its Steridose and Roplan businesses to its portfolio. Also, IDEX closed the buyout of Flow Management Devices in February 2020, which has strengthened its product offerings to chemical manufacturers, refineries and pipeline operators. In the third quarter of 2020, acquired assets boosted IDEX’s sales by 4%, while the same had positive impacts of 2% and 5% sales in the first and second quarter, respectively.Zacks Rank, Price Performance and Estimate RevisionsIDEX, with approximately $15.8 billion market capitalization, currently carries a Zacks Rank #2 (Buy). The company will benefit from a diversified business structure, solid product portfolio, acquired assets, execution abilities and growth investments in the quarters ahead.In the past six months, the company’s share price has increased 31.6% compared with the industry’s growth of 35.7%.The Zacks Consensus Estimate for the company’s earnings is pegged at $5.16 for 2020, up 0.2% from the 60-day-ago figure. The consensus estimate for 2021 earnings is pegged at $5.75, up 0.3% over the same time frame.Other Stocks to ConsiderSome other top-ranked stocks from the same space are EnPro Industries, Inc. NPO and Kaman Corporation KAMN, each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.EnPro delivered a positive earnings surprise of 279.71%, on average, in the trailing four quarters.Kaman delivered a positive earnings surprise of 43.61%, on average, in the trailing four quarters.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot stocks we're targeting >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Kaman Corporation (KAMN): Free Stock Analysis Report EnPro Industries (NPO): Free Stock Analysis Report IDEX Corporation (IEX): Free Stock Analysis Report Hillenbrand Inc (HI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research