IDEX Corporation Completes Acquisition of Akron Brass
March 17 2016 - 3:30AM
Business Wire
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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IDEX CorporationHeath A. MittsSenior Vice President –Chief
Financial Officer847.498.7070
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