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Rotork To Acquire Business And Assets Of FLOW-QUIP CONTROLS - Quick Facts

Monday, Rotork Plc (ROR.L) announced the acquisition of the business and assets of FLOW-QUIP CONTROLS INC, a privately held company based in Tulsa, Oklahoma, USA for a consideration, satisfied in cash, of $8.0 million of which $1 million will be deferred for 12 months.

Flow-Quip will fit within the Rotork Fluid Systems Division. It will add around $14 million of annual revenue with current returns marginally behind the rest of the Division.

"I am pleased to welcome Flow-Quip into the Rotork family of businesses. Flow-Quip brings with it additional products to add to our portfolio together with well established customer relationships in the United States and South America , markets we have identified as having potential for further growth," said Peter France, Chief Executive of Rotork Plc.

by RTT Staff Writer

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