Spirax-Sarco Engineering PLC Completion of the acquisition of Vulcanic (2484B)
30 Septembre 2022 - 08:00AM
UK Regulatory
TIDMSPX
RNS Number : 2484B
Spirax-Sarco Engineering PLC
30 September 2022
News Release
30th September 2022
Completion of the acquisition of Vulcanic
Spirax-Sarco Engineering plc, the thermal energy management and
niche pumping specialist, is pleased to confirm the completion of
its acquisition of the Vulcanic Group of Companies (Vulcanic). The
intent to acquire was announced on 4th July 2022 and an update on
the signing of a binding definitive agreement was provided on 25th
July 2022.
As previously reported, the acquisition consideration was
EUR261.7 million on a cash and debt free basis. In the year ended
31st December 2021, Vulcanic recorded revenues of EUR89.4 million,
EBITDA of EUR17.6 million and EBIT of EUR16.0 million on an
adjusted pro-forma basis and including the full year performance of
EML, a small acquisition made by Vulcanic in December 2021. For the
12 months to 31st August 2022 and on a comparable basis, revenues
were EUR99.9 million, EBITDA was EUR19.9 million and EBIT was
EUR17.8 million.
Earlier this week, on Wednesday 28th September, the Group also
announced the acquisition of Durex International Corporation
(Durex), a privately-owned US-based specialist of custom electric
thermal solutions for ultra-high criticality industrial
equipment.
Vulcanic and Durex will form part of the Group's Electric
Thermal Solutions Business (ETS), adding more than 1,100 colleagues
and strengthening ETS' coverage of attractive end-market sectors
and geographies to accelerate growth.
ETS will serve the market through multiple brands, supported by
regional manufacturing capability from 20 facilities worldwide.
Chromalox and Vulcanic will be the lead brands for electric heating
solutions for critical applications of industrial processes,
including the decarbonisation of those processes. Thermocoax and
Durex will be the lead brands of ultra-critical electric heating
solutions for industrial equipment.
Enquiries:
Nicholas Anderson, Group Chief Executive
Andrew Guthrie, Head of Investor Relations
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
9,200 people, including more than 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
ACQEAXNNADSAEFA
(END) Dow Jones Newswires
September 30, 2022 02:00 ET (06:00 GMT)
Spirax-sarco Engineering (LSE:SPX)
Graphique Historique de l'Action
De Fév 2024 à Mar 2024
Spirax-sarco Engineering (LSE:SPX)
Graphique Historique de l'Action
De Mar 2023 à Mar 2024