LONDON (dpa-AFX) - Rotork plc (ROR.L), an actuator manufacturer and global flow control company, announced Tuesday the acquisition of Roto Hammer Industries Inc. and Servo Moteurs Service.
Oklahoma, USA -based Roto Hammer is a manufacturer of custom-designed chain wheel manual valve operators. In 2014, Roto Hammer generated operating profit of $1.9 million. The enterprise value of the Roto Hammer acquisition is up to $12.4 million, payable in cash. The company said the purchase will be funded from existing committed bank facilities.
Roto Hammer will sit within the Rotork Gears division.
Separately, Rotork announced the purchase of Servo Moteurs Service, an actuator service business located in the South of France, for up to 1.4 million euros, payable in cash.
Peter France Chief Executive said, 'The acquisition of Roto Hammer is consistent with our strategy of continuing to broaden our product portfolio. This is a complementary business to Rotork Gears and will increase our presence in the important USA market. The acquisition of SMS in the South of France is another important step forward in the development of our direct service offering to our customers.'
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