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Rotork Acquires US's Roto Hammer And France's Servo Moteurs Service

Tue, 29th Sep 2015 07:56

LONDON (Alliance News) - Rotork PLC Tuesday said it has acquired US manufacturer Roto Hammer Industries Inc and actuator service business Servo Moteurs Service in two separate deals.

The FTSE 250-listed manufacturer of electric, pneumatic and hydraulic valve actuators and gearboxes said it has acquired Roto Hammer for a total of USD12.4 million in cash, which will be funded from existing bank facilities.

Roto Hammer is a manufacturer of custom-designed chain wheel manual valve operators based in Oklahoma in the US and will be integrated into Rotork's Gears division. In 2014, Roto Hammer generated an operating profit of USD1.9 million.

"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," said Rotork Chief Executive Peter France.

In a separate deal, Rotork has acquired Servo Moteurs Service for a total of EUR1.4 million in cash. Servo Moteurs Service is an actuator service business located in the south of France.

"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," said France.

By Joshua Warner;; @JoshAlliance

Copyright 2015 Alliance News Limited. All Rights Reserved.

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