LAKE FOREST, Ill.--(BUSINESS WIRE)--Mar. 17, 2016--
IDEX CORPORATION (NYSE:IEX) announced today that it has completed
the previously announced acquisition of Akron Brass Holding Corporation
(the “Company”) in an all cash transaction for $224.2 million on a
cash–free, debt–free basis, subject to customary post–closing
adjustments.
Operating under the Akron Brass and Weldon brand names, the Company
produces a large array of engineered life–safety products for the safety
and emergency response markets, including apparatus valves, monitors,
nozzles, specialty lighting, electronic vehicle–control systems and
firefighting hand tools.
Commenting on the acquisition, Andy Silvernail, Chairman and Chief
Executive Officer of IDEX Corporation said, “We are thrilled to announce
the closing of the Akron Brass transaction. Akron Brass is a natural
addition to our Fire & Safety/Diversified Segment and will provide our
customers in the global firefighting industry with an expanded offering
of world–class products and 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