Acquisition

RNS Number : 7131J

Spirax-Sarco Engineering PLC

09 April 2015

 



 

9th April 2015

Spirax-Sarco acquires ASEPCO Corporation

 

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 entire issued share capital of ASEPCO^® Corporation (Asepco) for £7.0 million.  Asepco will operate as part of our Watson-Marlow Fluid Technology Group (WMFTG).

Asepco, based in Mountain View, California USA, specialises in the design and manufacture of high purity aseptic valves and magnetic mixers for the biopharmaceutical industry.  We are pleased that Steve Joy will continue in his role as President.

Asepco is a natural extension of the WMFTG fluid path product portfolio and further strengthens WMFTG's already strong global presence in the biotechnology and pharmaceutical industries.  Asepco utilises patented, market-leading technology to improve sterility within the biotechnology production process, thereby reducing validation risk in demanding contamination-free applications; resulting in improved process sterility confidence for our customers.

The purchase consideration excludes any cash or debt balances and will be financed from the Group's existing cash resources. The acquisition is expected to provide a small benefit to Group earnings per share from 2015.

Enquiries:

Nick Anderson, Chief Executive

David Meredith, Director Finance

Tel:  [phone]

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 

 

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