July 23 (Reuters) - Industrial pump maker IDEX Corp ( IEX )

said on Tuesday it would buy filtration products maker

Mott Corp for $1 billion in cash.

The transaction will be funded through a combination of cash

on hand, borrowings from IDEX's ( IEX ) current credit facility and

potential debt issuance.

Mott will join IDEX's ( IEX ) health and science technologies

segment, IDEX ( IEX ) said.

The deal is expected to close by the end of the third

quarter of 2024.