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Spectris plc Completes Acquisition of IRM Group SA - Spectris plc (
Spectris plc Completes Acquisition of IRM Group SA

 

NewswireToday - /newswire/ - Egham, Surrey, United Kingdom, 2011/08/11 - Spectris plc ("Spectris" or the "company"), announces that it has completed the acquisition of IRM Group SA (“IRM”), a leading manufacturer of high technology measuring systems for the metals industry. LSE: SXS

   
 
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Spectris plc, the productivity-enhancing instrumentation and controls company, today announces that it has completed the acquisition of IRM Group SA (“IRM”), a leading manufacturer of high technology measuring systems for the metals industry. IRM is based near Liège, Belgium, and employs around 60 people. The net purchase consideration is €7.5 million (approximately £6.6 million), on a debt and cash-free basis. The consideration will be met from existing cash and bank facilities.

Contingent consideration of up to €1.5 million (£1.3 million) is payable to the vendors, based on the growth in orders for the 18-month period ending 31 December 2012.

The acquisition of IRM is in line with our strategy to grow our key strategic business segments. IRM is one of the leading suppliers of gauging instrumentation to the metals market, providing a comprehensive range of products to test the flatness, width, thickness, edge profile and coatings of metals.

IRM will become part of NDC Infrared Engineering in the In-line Instrumentation segment. NDC is a leader in the development and manufacture of measurement and control solutions for a wide range of manufacturing and process industries.

John O'Higgins, Chief Executive of Spectris, commented: “NDC has a range of gauging products which are highly successful in converting and plastic film markets. The acquisition of IRM will extend our capabilities to the increasingly important metals processing market and also strengthen our global distribution channels, particularly in emerging markets.”

 
 
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Written by / Agency / Source: Spectris plc

 
 

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Spectris plc Completes Acquisition of IRM Group SA

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Publisher Contact: Press Office - Spectris.com 
+44 (0)1784 470470 headoffice[.]spectris.com
 
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