Spirax-Sarco to buy Chromalox for $415 million

Spirax-Sarco Engineering agreed to buy Pittsburgh-based thermal technology company Chromalox from Irving Place Capital for $415 million on a cash-free, debt-free basis, financed by new bank debt. Chromalox has five manufacturing facilities across North America, France and China.

“Britain's Spirax-Sarco Engineering Plc said it had agreed to buy Pittsburgh-based thermal technology company Chromalox Inc from private equity firm Irving Place Capital for $415 million”reuters.com

• 2 sources
• reuters.comBritain's Spirax-Sarco to buy thermal tech firm Chromalox for $415 million | ReutersMay 26, 2017
• proactiveinvestors.co.ukSpirax-Sarco steams higher on US$415mln acquisition of US thermal technology firm Chromalox | LSE:SPXMay 26, 2017

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