Spirax-Sarco Engineering PLC Acquisition (8432G)
November 25 2015 - 4:00AM
UK Regulatory
TIDMSPX
RNS Number : 8432G
Spirax-Sarco Engineering PLC
25 November 2015
25(th) November 2015
Spirax Sarco acquires the business of Flow Smart Inc
Spirax-Sarco Engineering plc, the world leader in the control
and efficient use of steam, and in peristaltic pumping and
associated fluid path technologies, announces that it has acquired
the business and assets of Flow Smart Inc., (Flow Smart) for GBP5.7
million from the founding shareholder and partners.
Flow Smart, based in Seaford, Delaware USA, specialises in the
design and manufacture of high purity sanitary gaskets, silicone
transfer tubing and reinforced silicone hoses for the bioprocessing
and pharmaceutical industries. The business will be integrated into
the Watson-Marlow Fluid Technology Group (WMFTG) and we are pleased
that Lou Bongiorno, founder and President of Flow Smart, will
transfer along with existing staff to our new company,
Watson-Marlow Flow Smart, Inc., and continue in his role as
President.
Flow Smart is a natural extension and supplement to the WMFTG
fluid path product portfolio and further strengthens WMFTG's
extensive global presence in the biotechnology and pharmaceutical
industries, which includes Watson-Marlow Pumps, Watson-Marlow
Tubing, Flexicon Filling Systems, BioPure single-use tubing
connector systems, Aspeco aseptic valves and Alitea OEM Pumps. Flow
Smart's product range utilises market-leading technology to improve
sterility within the biotechnology production process, thereby
reducing validation risk in demanding contamination-free
applications and enhancing customer confidence.
The purchase consideration will be paid in cash at completion
from the Group's existing resources. The acquisition is expected to
generate an immediate small benefit to Group earnings per
share.
Enquiries:
Nick Anderson, Chief Executive
David Meredith, Director Finance
Tel: 01242 535234
About Spirax Sarco
Spirax-Sarco Engineering plc is the world leader in each of its
two businesses, Spirax Sarco for steam specialties and
Watson-Marlow Fluid Technology Group for niche peristaltic pumps
and associated fluid path technologies. The steam specialties
business provides a broad range of fluid control products,
engineered packages, site services and systems expertise for a
diverse range of industrial and institutional customers. The
company helps its customers to improve production efficiency,
reduce energy costs, water usage and emissions, 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 approximately 4,800 people, of whom around 1,300 are direct
sales and service engineers. Its shares have been listed on the
London Stock Exchange since 1959 (symbol: SPX).
Further information can be found at
www.spiraxsarcoengineering.com
This information is provided by RNS
The company news service from the London Stock Exchange
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