Information  X 
Enter a valid email address

Spirax-Sarco Engng (SPX)

  Print      Mail a friend       Annual reports

Friday 15 March, 2019

Spirax-Sarco Engng

Acquisition

RNS Number : 0419T
Spirax-Sarco Engineering PLC
15 March 2019
 

 

15th March 2019

Acquisition of Thermocoax - Definitive Agreement Executed

Spirax-Sarco Engineering plc, the thermal energy management and niche pumping specialist, is pleased to announce that it has now signed a binding definitive agreement to acquire Thermocoax Developpement and all of its group companies (Thermocoax) from, amongst others, Chequers Capital and TCR Capital for a cash-free, debt-free consideration of €158 million (£139 million).  Signature of this agreement follows the conclusion of exclusive negotiations announced on 18th February 2019.

As previously stated, the transaction will require certain regulatory approvals in France, Germany and the USA. These regulatory approvals and completion are expected during the second quarter of the year.

Enquiries:

Nicholas Anderson, Group Chief Executive

Kevin Boyd, Chief Financial Officer 

Tel:  01242 535234

 

About Spirax‐Sarco Engineering plc

Spirax‐Sarco Engineering plc is a thermal energy management and niche pumping specialist. It comprises three world‐leading businesses: Steam Specialties (Spirax Sarco and Gestra), for the control and management of steam; Chromalox, for electrical thermal energy solutions; and Watson-Marlow, for peristaltic pumping and associated fluid path technologies. The Steam Specialties business and Chromalox provide a broad range of fluid control and electrical process heating products, engineered packages, site services and systems expertise for a diverse range of industrial and institutional customers.  Both businesses help their end users to improve production efficiency, meet their environmental sustainability targets, improve product quality and enhance the safety of their operations.  Watson‐Marlow Fluid Technology Group offers the ideal solution for a wide variety of demanding fluid path applications with highly accurate, controllable and virtually maintenance free pumps and associated technologies. 

 

The Group is headquartered in Cheltenham, England, has strategically located manufacturing plants around the world and employs over 7,500 people, of whom over 1,600 are direct sales and service engineers.  Its shares have been listed on the London Stock Exchange since 1959 (symbol: SPX) and it is a constituent of the FTSE 100 index.

 

Further information can be found at www.spiraxsarcoengineering.com

 

RNS filter: Inside information prior to release

 

LEI  213800WFVZQMHOZP2W17

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
ACQEAFDSFFDNEFF

a d v e r t i s e m e n t