Rexnord LLC announced the acquisition of VAG Holding GmbH, for an estimated value of €175 million.
VAG designs and manufactures valves and engineered solutions across a broad range of applications, including water distribution, wastewater treatment, dams and hydropower generation as well as various other industrial applications. The acquisition complements Rexnord's existing Water Management platform with limited product overlap and virtually no geographic duplication.
VAG employs approximately 1,200 associates worldwide and reported net sales of approximately €140 million for the 12 months ended June 30, 2011. Headquartered in Mannheim, Germany, VAG currently operates three other principal manufacturing operations in Czech Republic, India and China and maintains sales offices in 18 countries.