Business
Acquisition
Acquisition.
About this update from Spirax Group Plc.
[{"type":"text","content":"\n \nRNS Number : 0419T Spirax-Sarco Engineering PLC 15 March 2019 \n\n \n15th March 2019\nAcquisition of Thermocoax - Definitive Agreement Executed\nSpirax-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.\nAs 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.\nEnquiries:\nNicholas Anderson, Group Chief Executive\nKevin Boyd, Chief Financial Officer \nTel: 01242 535234\n \nAbout Spirax‐Sarco Engineering plc\nSpirax‐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. \n \nThe 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 ...