# 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.

- Type: Acquisition
- Announced: 2017-05-26
- Where: Pittsburgh, United States
- Value: $415.0M
- Status: announced
- Products: steam traps, pumps, thermal energy management solutions
- Sectors: [Pumps and Valves](https://endata.com/sectors/pumps-valves.md), [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [Spirax-Sarco Engineering](https://endata.com/companies/489.md) (acquirer)
- [Chromalox](https://endata.com/companies/1490.md) (target)
- [Irving Place Capital](https://endata.com/companies/1491.md) (partner)

## Sources

- [reuters.com](https://www.reuters.com/article/business/britains-spirax-sarco-to-buy-thermal-tech-firm-chromalox-for-415-million-idUSKBN18M0K1/), 2017-05-26: "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"
- [proactiveinvestors.co.uk](https://www.proactiveinvestors.co.uk/companies/news/178387/spirax-sarco-steams-higher-on-us415mln-acquisition-of-us-thermal-technology-firm-chromalox-178387.html), 2017-05-26: "agreed to buy US thermal technology company Chromalox Inc from private equity firm Irving Place Capital for US$415mln"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.