Spirax Sarco Acquired Flow Measurement Business
Spirax Sarco has acquired the assets and business of AFTCO, LLC from AMJ Equipment Corporation.
The AFTCO business will be merged with the EMCO flow measurement business which the Group acquired in June 2005. AFTCO's range of electromagnetic flow meters is well known in the USA municipal water market and complements EMCO's existing range of flow meter products based on vortex, turbine, ultrasonic and differential pressure technologies. The AFTCO range will broaden the Group's range of flow measurement products for use on steam and condensate applications in the USA and international markets.
The initial purchase consideration, which is subject to adjustment based on future sales, is $2.75 million and will be funded from existing debt facilities.
Source: Spirax Sarco Limited.
