MRO Magazine

IDEX Corporation Completes Acquisition of AWG

July 1, 2016
By Business Wire News


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”.

IDEX Corporation
Heath A. Mitts
Senior Vice President –Chief Financial Officer