LAKE FOREST, Ill.--(BUSINESS WIRE)--May 16, 2016--
IDEX CORPORATION (NYSE:IEX) announced today that LUKAS Hydraulik
GmbH, a subsidiary of IDEX, has entered into a definitive agreement to
acquire AWG Fittings GmbH (“AWG”), a European leader in the
manufacturing of safety equipment, for a cash consideration of €46.0
million. AWG produces engineered products for the safety and emergency
response markets, including valves, monitors and nozzles, operating
under the AWG, Alco, ZR, and Lancier brand names.
Located in Ballendorf, Germany, AWG had revenues of approximately €36
million for the year ended December 31, 2015, and will operate within
the IDEX Fire and Safety/Diversified Products Segment. The transaction
is expected to close in approximately 45 days, subject to regulatory
approvals and customary closing conditions.
Commenting on the transaction, IDEX Chairman and Chief Executive
Officer, Andy Silvernail stated, “We are pleased to announce the AWG
transaction, and look forward to welcoming them to the IDEX family. AWG
brings excellent brands and products to our expanding Fire Suppression
platform. This addition, coupled with our recent acquisition of Akron
Brass, further supports our global customers with best in class life
safety and fire suppression solutions.”
About IDEX
IDEX Corporation is an applied solutions company specializing in fluid
and metering technologies, health and science technologies, and fire,
safety and other diversified products built to its customers’ exacting
specifications. IDEX has annual revenues in excess of $2 billion and
sells its products in niche markets to a wide range of industries
throughout the world. IDEX shares are traded on the New York Stock
Exchange and Chicago Stock Exchange under the symbol “IEX”.
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Source: IDEX Corporation
IDEX Corporation
Heath A. Mitts
Senior Vice President –Chief
Financial Officer
847.498.7070