Electronics Production |
Spectris acquires Omega Engineering
Spectris plc has signed an agreement to acquire the Omega Engineering business. The purchase consideration of USD 475 million, on a debt and cash-free basis, will be met from cash and new bank facilities and is subject to routine balance sheet adjustments.
The acquisition is expected to enhance adjusted earnings per share in the first full financial year of ownership. We expect the acquisition to complete in Q4 on satisfaction of customary closing conditions including US and German antitrust clearances.
John O’Higgins, Chief Executive of Spectris, commented: “Trading since the time of our last update on 15 July has remained in line with our expectations. We are delighted to have reached agreement to acquire the Omega Engineering business, which will bring a significant strategic growth platform to our Industrial Controls segment.”
