Idex to acquire Akron Brass for $224.4M

LAKE FOREST - Idex Corp. said it will acquire Akron Brass Holding Corp. an indirect wholly-owned subsidiary of Premier Farnell plc. for approximately $224.2 million,

Akron Brass is a global manufacturer of safety equipment and emergency response equipment. Under the Akron Brass and Weldon brand names, the company produces an 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.

Wooster, Ohio-based Akron Brass had revenues of approximately $120 million for the trailing 12 months ending Dec. 31, 2015 and will operate within the Idex Fire and Safety/Diversified Products segment. The transaction is expected to close in approximately 60 days, subject to regulatory approvals and customary closing conditions.

"Akron Brass' world-class brands and presence as a premier manufacturer of firefighting equipment are an excellent strategic fit within our existing Fire Suppression platform," said Idex Chairman and Chief Executive Officer Andy Silvernail.