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Spirax-Sarco To Sell HygroMatik To Carel Industries For EUR 59.0 Mln

Spirax-Sarco Engineering plc (SPX.L) announced the unconditional disposal of HygroMatik GmbH to Carel Industries S.p.A. for a total cash consideration of 59.0 million euros or 52.3 million pounds on a debt free, cash free basis.

HygroMatik, headquartered near Hamburg Germany, a manufacturer of premium commercial and industrial air humidification equipment in Europe.

In the year ended 31st December 2017, HygroMatik's sales were 13.0 million pounds, EBITDA was 4.1 million pounds and operating profit was 3.9 million pounds all translated at the 2017 average euro exchange rate of 1.15 euro to the pound.

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