IDEX Corporation, an applied solutions company specializing in fire suppression and safety technology, has acquired through its subsidiary, LUKAS Hydraulik GmbH, the AWG Fittings Group (AWG) from Paragon Partners.
The acquisition is part of the growth strategy of IDEX. The AWG transaction, coupled with the recent acquisition of Akron Brass in the US, further supports the global supply of their customers with best in class life safety and fire suppression solutions. AWG will operate within the IDEX Fire and Safety/Diversified Products Segment.
AWG is a European market leader and full-service provider for the professional rescue and safety industry. Their product portfolio includes pumps, valves, monitors and nozzles, operating under the AWG, Alco, ZR, and Lancier brand names. AWG had revenues of approximately €36 million for the year ended December 31, 2015.
The management of AWG together with PARAGON PARTNERS have changed the company from a family business to a professional, customer-oriented development and production company.
The transaction is subject to regulatory approvals and customary closing conditions.