25th Nov 2015 09:06
LONDON (Alliance News) - Engineer Spirax-Sarco Engineering PLC on Wednesday said it has acquired the business and assets of US-based Flow Smart Inc for GBP5.7 million.
FTSE 250-listed Spirax-Sarco, which makes steam management systems and peristaltic pumps, said Flow Smart, based in Delaware, makes high-purity sanitary gaskets, silicone transfer tubing and reinforced silicone hoses for bioprocessing and pharmaceutical clients.
The business will be integrated into Spirax-Sarco's Watson-Marlow Fluid Technology Group arm and will boost its product portfolio, along with strengthening its presence in the bioprocessing and pharmaceutical industries.
Shares in Spirax-Sarco were up 0.3% to 3,012.00 pence on Wednesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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