Transaction Announcement: Spirax-Sarco Engineering has acquired Chromalox

Spirax-Sarco Engineering plc (LSE: SPX) (“Spirax”) has acquired Chromalox, Inc. from Irving Place Capital Partners for $415 million.  Chromalox is a leader in electric based process heating solutions for a diverse range of industrial markets and applications.  Chromalox offers the most comprehensive suite of heating control products on the market and is recognized as a premier brand and technology leader.  Chromalox is closely related and highly complementary to the Spirax steam business.  Both companies deliver thermal energy management solutions to customers through a primarily direct sales model with the decision between using steam or electricity as a heating medium being driven by differing needs of the application or customer circumstances.  

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By | 2017-07-17T21:47:57+00:00 July 4th, 2017|Transaction Announcements|0 Comments