ACQUISITION OF IRM GROUP SA FOR ?7.5 MILLION

RNS Number : 1929M

Spectris PLC

11 August 2011

 



11 August 2011

ACQUISITION OF IRM GROUP SA FOR €7.5 MILLION

Spectris plc ("Spectris" or the "company"), the productivity-enhancing instrumentation and controls company, today announces that it has completed the acquisition of IRM Group SA ("IRM"), a leading manufacturer of high technology measuring systems for the metals industry. IRM is based near Liège, Belgium, and employs around 60 people. The net purchase consideration is €7.5 million (approximately £6.6 million), on a debt and cash-free basis. The consideration will be met from existing cash and bank facilities.

Contingent consideration of up to €1.5 million (£1.3 million) is payable to the vendors, based on the growth in orders for the 18-month period ending 31 December 2012.  

The acquisition of IRM is in line with our strategy to grow our key strategic business segments. IRM is one of the leading suppliers of gauging instrumentation to the metals market, providing a comprehensive range of products to test the flatness, width, thickness, edge profile and coatings of metals.

IRM will become part of NDC Infrared Engineering in the In-line Instrumentation segment. NDC is a leader in the development and manufacture of measurement and control solutions for a wide range of manufacturing and process industries.

John O'Higgins, Chief Executive of Spectris, commented: "NDC has a range of gauging products which are highly successful in converting and plastic film markets. The acquisition of IRM will extend our capabilities to the increasingly important metals processing market and also strengthen our global distribution channels, particularly in emerging markets."

ENDS

Enquiries:	John O'Higgins, Chief Executive, Spectris plc	Tel: [phone]
	Clive Watson, Group Finance Director, Spectris plc	Tel: [phone]
	Richard Mountain, Financial Dynamics	Tel: [phone]

About Spectris

Spectris plc is a leading supplier of productivity-enhancing instrumentation and controls. The company's products and technologies help customers to improve product quality and performance, improve core manufacturing processes, reduce downtime and wastage and reduce time to market. Its global customer base spans a diverse range of end user markets.

Spectris operates across four business segments which reflect the applications and industries it serves: Materials Analysis, Test and Measurement, In-line Instrumentation and Industrial Controls. Headquartered in Egham, Surrey, the company employs over 6,400 people, with offices in more than 30 countries.

For more information, visit www.spectris.com

Copies of this announcement are available from the company's registered office at

Station Road, Egham, Surrey TW20 9NP and on the company's website at www.spectris.com.

 

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