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Spirax-Sarco Engineering Plc To Acquire Vulcanic Group From Qualium

Spirax-Sarco Engineering plc (SPX.L) has entered into exclusive negotiations with a view to acquire the Vulcanic Group of Companies from Qualium for consideration of 261.7 million euros on a cash and debt free basis. Headquartered in Paris, France, Vulcanic is a European industrial electric heating group, and is the largest supplier in Europe of bespoke industrial electric heating solutions. It has 10 manufacturing facilities worldwide and over 700 employees.

Spirax-Sarco Engineering said Vulcanic will support the delivery of growth in the Group's Electric Thermal Solutions Business through its existing customers, products and operational footprints which are mostly in the EMEA region. The acquisition is estimated to be accretive to Group earnings in 2022.

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