Rexnord acquires German valve manufacturer

Rexnord LLC of Milwaukee announced it has acquired German valve manufacturer VAG Holding GmbH.
The transaction, which is expected to close in 90 days, has Rexnord acquiring 100 percent of VAG stock at an estimated aggregate transaction value of approximately $251 million.
Rexnord makes parts used in process and motion control and water management, and said the acquisition will fit into its existing water management platform with minimal product overlap. It currently has about 6,300 employees worldwide.
VAG is based in Mannheim, Germany and has about 1,200 employees worldwide. It also has facilities in Hodonin, Czech Republic, Secunderabad, India and Taicang, China. It reported about $200 million in net sales in the year ending June 30.