IDEX To Acquire AWG For 46 Million Euros

IDEX , an applied solutions company, said LUKAS Hydraulik GmbH, a subsidiary of IDEX, agreed to acquire AWG Fittings GmbH, a European manufacturer of safety equipment, for a cash consideration of 46.0 million euros. The deal is expected to close in approximately 45 days. 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. Shares of Lake Forest, Illinois-based company fell 1.4% to $81.22 on Friday, paring this year’s gain to 6%.

The stock closed at $81.22 during the last session. It is down 2.54% since October 8, 2015 and is uptrending. It has outperformed by 0.89% the S&P500.

IDEX Corporation, through its subsidiaries, provides various pumps, flow meters, other fluidics systems and components, and engineered products worldwide. Its Fluid & Metering Technologies segment designs, produces, and distributes positive displacement pumps, flow meters, injectors, other fluid-handling pump modules and systems, and specialty valve products, as well as provides flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

The companyÂ’s Health & Science Technologies segment designs, produces, and distributes precision fluidics, rotary lobe pumps, centrifugal and positive displacement pumps, roll compaction, and drying systems for use in beverage, food processing, pharmaceutical, and cosmetics; pneumatic components and sealing solutions, such as pumping solutions for analytical instrumentation, clinical diagnostics, and drug discovery; biocompatible medical devices and implantables; and air compressors for medical, dental, and industrial applications. This segment also provides optical components and coatings for scientific research, defense, biotechnology, life sciences, aerospace, telecommunications, and electronics manufacturing applications; laboratory and commercial equipment for the production of micro and nano scale materials; precision photonic solutions for life sciences, research, and defense markets; and precision gear and peristaltic pump technologies. Its Fire & Safety/Diversified Products segment produces firefighting pumps and controls, rescue tools, lifting bags, and other components and systems for the fire and rescue industry; engineered stainless steel banding and clamping devices for various industrial and commercial applications; and precision equipment for dispensing, metering, and mixing colorants, as well as paints for use in retail and commercial businesses. The company was founded in 1987 and is based in Lake Forest, Illinois.