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| Date | 25 Jul 2022 |
| Time | 07:30:03 |
| Category | Acquisitions and alliances |
| ID | 5266T |
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 €261.7 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