Melrose completes acquisition of US firm Eclipse

Melrose Industries' Elster Gas business has completed the acquisition of US-based Eclipse after receiving anti-trust clearance.

It paid a total of $158m for the firm, which manufactures gas combustion components and systems for industrial heating and drying applications.

In the year ended 31 March, it reported sales of $126m.

Melrose funded the acquisition from its existing debt facilities and made the transaction on a debt and cash free basis.

Melrose previously said it made the purchase because Eclipse's knowledge of low-temperature industrial gas combustion "complements Elster's expertise in high-temperature industrial gas combustion applications in Europe".