Spirax-Sarco completes $415m Chromalox deal

Steam, peristaltic pumping and fluid path technology company Spirax-Sarco Engineering confirmed it had completed the acquisition of Chromalox on Tuesday.

The FTSE 250 company had initially announced the $415m deal on 26 May.

Spirax-Sarco said it would now invest in Chromalox to strengthen its direct sales channels, as well as leverage its footprint to grow Chromalox's presence outside of its core markets in the US.

“We are delighted to complete the acquisition of Chromalox and welcome our new colleagues to the Spirax-Sarco family,” said group chief executive Nicholas Anderson.

“Chromalox is closely related to our steam specialities business, in delivering thermal energy solutions to customers, and we look forward to leveraging the Steam Specialities business model and our global footprint to further internationalise Chromalox and to enhance and grow their already-strong US business.”