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United Kingdom : TT ELECTRONICS takes over ROXSPUR MEASUREMENT & CONTROL

July 15, 2014



TT Electronics PLC declared that it has purchased Roxspur Measurement & Control Ltd for an initial consideration of GBP7.5 million in cash, with a further GBP2.5 million payable based on performance targets.

Roxspur is a supplier of temperature, flow, pressure and level sensors.

According to the company, the acquisition will form part of its sensing and control division, and accelerates its strategy to develop its position in industrial markets including process control.

The acquisition will immediately add to earnings. Roxspur had an operating profit of GBP900,000 on sales of GBP8.2 million in the year to end-June, said TT Electronics.

Chief Executive Richard Tyson said, We have a clear strategy to achieve sustainable organic growth and further improve margins. We are actively looking for opportunities to accelerate this organic development with complementary acquisitions, including in industrial sensing and control.


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Source: TendersInfo (India)


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