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.
Last weekend, IMAP colleagues from all over the world were due to congregate in Denver, Colorado, for a conference planned for many months, where deals, learning, and friendships would be developed and shaped. Even a month ago when the difficult decision was made to cancel the event, none of us could have foreseen the speed and scale of events that have occurred since.
GRE Gauff Rail Engineering GmbH & Co. KG has been acquired by Dorsch Holding GmbH. With this acquisition, Dorsch expands the group's range of services in the railway sector.