Spirax-Sarco acquires Asepco for £7m

Spirax-Sarco Engineering, a steam system management and peristaltic pumping company, has acquired Asepco Corporation for £7m.

Asepco is an US manufacturer of aseptic valves and magnetic mixers for the biopharmaceutical industry.

The acquisition will be funded from the group's existing cash resources and is expected to generate earnings per share for 2015.

Spirax-Sarco posted a 2% decline in its revenues to £678.3m last month due to "unhelpful economic background and a stiff currency headwind".

As a result, chief executive Mick Anderson said at the time that the group would increase its investment and add resources in support of its growth strategy.

Shares in Spirax-Sarco were down 0.34% to 3472p on Thursday at 10:02.