Spirax-Sarco Engineering (SPX)

Sector:

Engineering

Index:

FTSE 100

10,050.00p
   
  • Change Today:
    -50.00p
  • 52 Week High: 11,855.00
  • 52 Week Low: 8,058.00
  • Currency: UK Pounds
  • Shares Issued: 73.77m
  • Volume: 151,622
  • Market Cap: £7,414m
  • RiskGrade: 124

Spirax-Sarco in exclusive talks to buy Vulcanic

By Michele Maatouk

Date: Monday 04 Jul 2022

LONDON (ShareCast) - (Sharecast News) - Thermal energy management specialist Spirax-Sarco Engineering has entered into exclusive negotiations to buy Vulcanic from French private equity group Qualium for €261.7m (£225.5m) on a cash and debt-free basis.
Established in 1973, Vulcanic is a European industrial electric heating group and is the largest supplier in Europe of bespoke industrial electric heating solutions.

In the year ended 31 December 2021, the business recorded revenues of €89.4m (£76.8m), earnings before interest, tax, depreciation and amortisation (of €17.6m (£15.2m) and earnings before interest and tax of €16.0m (£13.8m) on an adjusted pro-forma basis.

Spirax said on Monday that Vulcanic will support the delivery of growth in its Electric Thermal Solutions (ETS) business through its existing customers, products and operational footprints which are mostly in the EMEA region and will complement the company's existing Chromalox business, which is mostly focused on the Americas region.

Vulcanic operates a direct sales model to end users and Original Equipment Manufacturers, as well as contractors, and serves a range of markets aligned to the core market sectors of ETS.

Chief executive Nicholas Anderson said: "We are looking forward to welcoming colleagues from Vulcanic into our Group. We have been following Vulcanic for some time and believe the acquisition represents an excellent opportunity to broaden our addressable market and further deploy our industry leading technologies in Europe.

"Vulcanic's existing strength and scale in Europe - with further investment by our group - will provide a fantastic platform for growth, especially for our recently launched portfolio of TargetZero solutions, which electrify heat generation for industrial processes to support our customers' decarbonisation objectives."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

SPX Market Data

Currency UK Pounds
Share Price 10,050.00p
Change Today -50.00p
% Change -0.50 %
52 Week High 11,855.00
52 Week Low 8,058.00
Volume 151,622
Shares Issued 73.77m
Market Cap £7,414m
RiskGrade 124

SPX Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
94.44% below the market average94.44% below the market average94.44% below the market average94.44% below the market average94.44% below the market average
88.24% below the sector average88.24% below the sector average88.24% below the sector average88.24% below the sector average88.24% below the sector average
Price Trend
2.29% below the market average2.29% below the market average2.29% below the market average2.29% below the market average2.29% below the market average
14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average
Income
97.23% below the market average97.23% below the market average97.23% below the market average97.23% below the market average97.23% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Growth
83.84% above the market average83.84% above the market average83.84% above the market average83.84% above the market average83.84% above the market average
69.70% above the sector average69.70% above the sector average69.70% above the sector average69.70% above the sector average69.70% above the sector average

What The Brokers Say

Strong Buy 1
Buy 2
Neutral 8
Sell 5
Strong Sell 0
Total 16
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

SPX Dividends

  Latest Previous
  Final Interim
Ex-Div 25-Apr-24 12-Oct-23
Paid 24-May-24 10-Nov-23
Amount 114.00p 46.00p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 106,488 @ 10,050.00p
16:35 97 @ 10,050.00p
16:35 145 @ 10,050.00p
16:35 51 @ 10,050.00p
16:35 100 @ 10,050.00p

SPX Key Personnel

Chair Jamie Pike
CEO Nimesh Patel

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