Spirax-Sarco Engineering PLC Vulcanic Acquisition Agreement Executed
25 July 2022 - 04:30PM
UK Regulatory (RNS & others)
TIDMSPX
RNS Number : 5266T
Spirax-Sarco Engineering PLC
25 July 2022
News Release
25th July 2022
Acquisition of Vulcanic - Definitive Agreement Executed
Spirax-Sarco Engineering plc, the thermal energy management and
niche pumping specialist, announces that it has now signed a
binding definitive agreement to acquire the Vulcanic Group of
Companies (Vulcanic) from Qualium, a French private equity company,
for a consideration of EUR261.7 million on a cash and debt free
basis, subject to customary closing adjustments.
Signature of this definitive agreement follows the conclusion of
exclusive negotiations announced on 4th July 2022.
As previously stated, the transaction will require regulatory
approvals in France and Germany. These regulatory approvals and
completion are expected during the third quarter of the year.
Enquiries:
Nimesh Patel, Chief Financial Officer
Andrew Guthrie, Head of Investor Relations
Tel: +44 01242 535035
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, for the control and management of
steam; Electric Thermal Solutions, for advanced electrical process
heating and temperature management solutions; and Watson-Marlow,
for peristaltic pumping and associated fluid path technologies. The
Steam Specialties and Electric Thermal Solutions Businesses 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
provides solutions 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, UK, has strategically
located manufacturing plants around the world and employs more than
8,700 people, including almost 2,000 direct sales and service
engineers. The Company's shares have been listed on the London
Stock Exchange since 1959 (symbol: SPX) and it is a constituent of
the FTSE 100 and the FTSE4Good indices.
Further information can be found at
www.spiraxsarcoengineering.com
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 rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQGZGZNLDZGZZM
(END) Dow Jones Newswires
July 25, 2022 02:30 ET (06:30 GMT)
Spirax-sarco Engineering (LSE:SPX)
Historical Stock Chart
From May 2023 to Jun 2023
Spirax-sarco Engineering (LSE:SPX)
Historical Stock Chart
From Jun 2022 to Jun 2023