Spirax-Sarco buys US-based Flow Smart for £5.7m

Spirax-Sarco Engineering has acquired the business and assets of US-based Flow Smart Inc for £5.7m, in a deal it expects to generate an immediate small benefit to group earnings per share.

Flow Smart is based in Seaford, Delaware, and specialises in the design and manufacture of high purity sanitary gaskets, silicone transfer tubing and reinforced silicon hoses for the bioprocessing and pharmaceutical industries.

The engineering group said the business will be integrated into the Watson-Marlow Fluid Technology Group and Lou Bongiorno, founder and president of Flow Smart, will transfer along with existing staff to the new company, Watson-Marlow Flow Smart.

Spirax said the purchase consideration will be paid in cash at completion from the group’s existing resources.

At 1010 GMT, Spirax shares were up 1.1% at 3,036p.