Spirax-Sarco Engineering PLC Completion of Acquisition (8549Y)

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RNS Number : 8549Y

Spirax-Sarco Engineering PLC

13 May 2019

13th May 2019

Completion of the Acquisition of Thermocoax

Spirax-Sarco Engineering plc, the thermal energy management and niche pumping specialist, is pleased to announce the completion of the acquisition of Thermocoax Developpement and all of its group companies (Thermocoax) following regulatory approval in France, Germany and the USA. Details of the acquisition were announced on 18th February 2019 and an an update on the signing of a definitive binding agreement was provided on 15th March 2019.

Nicholas Anderson, Group Chief Executive of Spirax Sarco, said:

"We are delighted to complete the acquisition of Thermocoax and welcome our new colleagues to the Spirax Sarco family. Thermocoax will enhance and add significantly to our electrical process heating business in delivering thermal energy solutions to customers. We look forward to leveraging the Spirax Sarco business model and our global footprint to further internationalise Thermocoax and to enhance and grow an already strong business."

Enquiries:

Nicholas Anderson, Chief Executive

Kevin Boyd, Group Finance Director

Tel: [phone]

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 (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.

The 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 it is a constituent of the FTSE 100 index.

Further information can be found at www.spiraxsarcoengineering.com

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May 13, 2019 09:45 ET (13:45 GMT)