IDEX Corp. subsidiary acquires AWG

Business Wire

LAKE FOREST -IDEX Corp. said its subsidiary LUKAS Hydraulik GmbH will acquire AWG Fittings GmbH, a European manufacturer of safety equipment, in a 46 million Euro cash deal.

AWG produces engineered products for the safety and emergency response markets, including valves, monitors and nozzles, operating under the AWG, Alco, ZR, and Lancier brand names.

Located in Ballendorf, Germany, AWG had revenues of approximately 36 million euros for the year ended December 31, 2015, and will operate within the IDEX Fire and Safety/Diversified Products Segment. The transaction is expected to close in approximately 45 days, subject to regulatory approvals and customary closing conditions.

"AWG brings excellent brands and products to our expanding Fire Suppression platform," said IDEX Chairman and Chief Executive Officer Andy Silvernail. "This addition, coupled with our recent acquisition of Akron Brass, further supports our global customers with best in class life safety and fire suppression solutions."