According with a Reuters statement, valve maker Spirax-Sarco Engineering SPX said it had entered exclusive negotiations with French private-equity firm Qualium to acquire Vulcanic Group of Companies for 261.7 million euros (USD272.87 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.