Sector News

IDEX Corp. to acquire AWG in EUR 46M deal

May 18, 2016
Energy & Chemical Value Chain

IDEX Corporation announced that LUKAS Hydraulik GmbH, a subsidiary of IDEX, has entered into a definitive agreement to acquire AWG Fittings GmbH, a European leader in the manufacturing of safety equipment, for a cash consideration of €46.0 million.

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 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.

Commenting on the transaction, IDEX Chairman and Chief Executive Officer, Andy Silvernail stated, “We are pleased to announce the AWG transaction, and look forward to welcoming them to the IDEX family. AWG brings excellent brands and products to our expanding Fire Suppression platform. 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.”

Source: Street Insider

comments closed

Related News

February 17, 2024

INEOS Inovyn launches Ultra Low Carbon Chlor-Alkali range

Energy & Chemical Value Chain

INEOS Inovyn announces a new Ultra Low Carbon range (ULC) of Chlor-Alkali products that reduce the carbon footprint of caustic soda, caustic potash and chlorine by up to 70% compared to industry averages. The new range uses renewable energy sources to power INEOS Inovyn manufacturing sites.

February 17, 2024

Solvay completes coal phase-out at Wyoming soda ash plant

Energy & Chemical Value Chain

Solvay operates seven soda ash plants worldwide. Beyond Green River, coal is being phased out at two of the company’s plants in France and Germany. By the end of 2024, the Rheinberg, Germany site will become the first soda ash plant in the world to be powered primarily with renewable energy.

February 17, 2024

Chemours names new board member

Energy & Chemical Value Chain

The Chemours Company has named Pamela Fletcher to its board of directors, effective March 1. Fletcher, formerly the chief sustainability officer at Delta Air Lines Inc., takes the seat of Sandra Phillips Rogers, who has opted not to stand for reelection to the company’s board.

How can we help you?

We're easy to reach