Spirax-Sarco acquires ASEPCO Corporation
Spirax-Sarco Engineering plc, the world leader in the control and efficient use of steam, and in peristaltic pumping and associated fluid path technologies, announces that it has acquired the entire issued share capital of ASEPCO® Corporation (Asepco) for £7.0 million. Asepco will operate as part of our Watson-Marlow Fluid Technology Group (WMFTG).
Asepco, based in Mountain View, California USA, specialises in the design and manufacture of high purity aseptic valves and magnetic mixers for the biopharmaceutical industry. We are pleased that Steve Joy will continue in his role as President.
Asepco is a natural extension of the WMFTG fluid path product portfolio and further strengthens WMFTG's already strong global presence in the biotechnology and pharmaceutical industries. Asepco utilises patented, market-leading technology to improve sterility within the biotechnology production process, thereby reducing validation risk in demanding contamination-free applications; resulting in improved process sterility confidence for our customers.
The purchase consideration excludes any cash or debt balances and will be financed from the Group's existing cash resources. The acquisition is expected to provide a small benefit to Group earnings per share from 2015.