Qualium

Spirax-Sarco Engineering completed its acquisition of Vulcanic from Qualium for €261.7 million on a cash and debt-free basis, adding it to its Electric Thermal Solutions business.

Spirax-Sarco Engineering entered exclusive negotiations with Qualium to acquire the Vulcanic Group, a Paris-based industrial electric heating maker, for €261.7 million on a cash and debt-free basis. The deal is expected to complete after regulatory approvals in the third quarter.