The British company expects acquisition of Vulcanic, an European industrial electric heating group, to be accretive to earnings in 2022.
($1 = 0.9590 euros)
(Reporting by Shanima A in Bengaluru; Editing by Sherry Jacob-Phillips)
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(Reuters) - Valve maker Spirax-Sarco Engineering said on Monday it had entered exclusive negotiations with French private-equity firm Qualium to acquire Vulcanic Group of Companies for 261.7 million euros ($272.87 million) on a cash-and-debt-free basis.
The British company expects acquisition of Vulcanic, an European industrial electric heating group, to be accretive to earnings in 2022.
($1 = 0.9590 euros)
(Reporting by Shanima A in Bengaluru; Editing by Sherry Jacob-Phillips)
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