LAKE FOREST, Ill.--(BUSINESS WIRE)--Jul. 1, 2016--
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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Source: IDEX Corporation
IDEX Corporation
Heath A. Mitts
Senior Vice President –Chief
Financial Officer
847.498.7070