Spirax-Sarco Engineering PLC
01 February 2008
1st February 2008
Spirax Sarco acquires Danish manufacturer of peristaltic aseptic filling systems
for DKK141m (£14.1m)
Spirax-Sarco Engineering plc announces that, through its subsidiary company
Watson-Marlow Bredel, it has agreed to acquire the entire issued share capital
of Flexicon A/S, based in Denmark. The transaction includes full ownership of
Flexicon's distribution company for the USA, Flexicon America Inc. Completion,
which is expected to take place by the end of February, is subject to routine
Closing conditions.
Flexicon's range of peristaltic aseptic filling systems is marketed to the
biopharmaceutical industry worldwide. Watson-Marlow Bredel is the world's
leading manufacturer of peristaltic pumps and the acquisition of Flexicon
complements its existing range of peristaltic pumps for dispensing applications
and strengthens its presence in the biotechnology and pharmaceutical industries.
Turnover in the year ended 30th June 2007 was DKK65m (£6.5m).
The purchase consideration of DKK141m (£14.1m) excludes any cash or debt
balances and will be financed from the Group's existing cash resources. DKK113m
(£11.3m) of the consideration is payable on Completion, with the balance payable
in three equal instalments during the next three years. The acquisition is
expected to provide a benefit to Group earnings per share from 2008.
Contact details:
Marcus Steel - Chief Executive
Mark Vernon - Chief Operating Officer
David Meredith - Director Finance
Spirax-Sarco Engineering plc
Charlton House
Cheltenham
Gloucestershire
GL53 8ER
Tel: 01242 521361
Fax: 01242 581470
www.SpiraxSarcoEngineering.com
This information is provided by RNS
The company news service from the London Stock Exchange
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