Rotork plc Acquires Roto Hammer Industries Inc. and Servo Moteurs Service
Rotork plc ("Rotork"), the market-leading actuator manufacturer and flow control company, today announces the acquisition of Roto Hammer Industries Inc. ("Roto Hammer") and Servo Moteurs Service ("SMS").
Roto Hammer, based in Tulsa, Oklahoma, USA, is a manufacturer of custom-designed chain wheel manual valve operators.
The enterprise value of the acquisition is up to $12.4 million, payable in cash. The purchase will be funded from existing committed bank facilities. In 2014 Roto Hammer generated operating profit of $1.9 million.
Roto Hammer will sit within the Rotork Gears division.
Separately, Rotork announces the purchase of SMS, an actuator service business located in the South of France, for up to €1.4 million, payable in cash.
Commenting on the acquisitions Peter France Chief Executive said:
"The acquisition of Roto Hammer is consistent with our strategy of continuing to broaden our product portfolio. This is a complementary business to Rotork Gears and will increase our presence in the important USA market."
"The acquisition of SMS in the South of France is another important step forward in the development of our direct service offering to our customers."