Partner Interview
Published April 20, 2025
IDEX Corp: STC Material Solutions Acquisition
inpractise.com/articles/idex-corp-stc-material-solutions-acquisition
Executive Bio
Former Key Account Manager at STC Material Solutions (acquired by IDEX in 2024)
Interview Transcript
Disclaimer: This interview is for informational purposes only and should not be relied upon as a basis for investment decisions. In Practise is an independent publisher and all opinions expressed by guests are solely their own opinions and do not reflect the opinion of In Practise.
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If you think about the book of business you've managed, excluding the significant Raytheon contract, to what degree was your growth driven by winning new accounts compared to growing existing accounts with new applications?
It's a fair question, and it's kind of split. I found that working for STC was much more conducive to expanding business with existing customers. The culture was very production-oriented, with no R&D, which made bringing in new customers difficult. When you bring in a new customer, you need to give it special attention, and the culture was not cognizant of that. It was hostile to bringing new things in, for a sales guy
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Would you agree in the contract to a price for one, two, or three years? Or would there be any moving parts? How would the pricing work over time in such a long relationship?
The pricing is generally set, but there are mechanisms in government contracts to increase your price. You can pursue an inflation adjustment or make a hardship claim if something you planned to do turns out differently. However, that's extremely hard to do.
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