IDEX Corporation acquired Akron Brass (Akron Brass Holding Corporation) for $224.2 million (base purchase price), a transaction completed in March 2016, structured as all cash.
Akron Brass (Akron Brass Holding Corporation) operates in Fire & Safety/Diversified Products, is based in Wooster, Ohio, USA. Global leader in the manufacturing of safety equipment and emergency response equipment, operating under the Akron Brass and Weldon brand names; produces a large array of engineered life-safety products including apparatus valves, monitors, nozzles, specialty lighting, electronic vehicle-control systems and firefighting hand tools. Acquired from Premier Farnell plc.
World-class brands and presence as a premier manufacturer of firefighting equipment are an excellent strategic fit within the existing Fire Suppression platform.
Complements and creates synergies with existing Hale, Class 1, and Godiva businesses. Fire & Safety/Diversified Products segment
We are pleased to announce the Akron Brass transaction, and look forward to welcoming them to the IDEX family. Akron Brass' world-class brands and presence as a premier manufacturer of firefighting equipment are an excellent strategic fit within our existing Fire Suppression platform.Andy Silvernail, Chairman and Chief Executive Officer, IDEX
Advisory firms were not disclosed for this transaction.