Diploma buys Virginia Sealing Products for £56m
Diploma
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Technical products supplier Diploma on Thursday said it had bought the assets and trade of Virginia Sealing Products for £56m.
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VSP supplies gaskets and fluid sealing products to the industrial maintenance, repair and overhaul market, Diploma said, adding that it could make deferred payments up to £8m in late 2020 subject to achievement of operating profit targets.
US-based VSP specialises in customers processing and transporting hazardous and corrosive materials, along with those in other industrial markets, including power generation, pulp and paper and marine.