IDEX Corporation Completes Acquisition of AWG
July 01 2016 - 04:33PM
Business Wire
IDEX CORPORATION (NYSE:IEX) announced today that LUKAS
Hydraulik GmbH, a subsidiary of IDEX, has completed its previously
announced acquisition of AWG Fittings GmbH (“AWG”) from Paragon
Partners in an all–cash transaction at an enterprise value of €46.0
million on a cash–free, debt–free basis.
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.
Commenting on the acquisition, IDEX Chairman and Chief Executive
Officer, Andy Silvernail stated, “The acquisition of AWG brings
excellent brands and high–quality products to our Fire Suppression
platform. In 2016, we have welcomed both AWG and Akron Brass to the
IDEX family, and we are excited about the opportunities these
acquisitions provide to expand the global reach of our fire
suppression products.”
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. Our products are sold 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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