Spirax Sarco acquires Bio Pure Technology Limited

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Spirax-Sarco Engineering plc, the world leader in the control and efficient use of steam and in peristaltic pumping, announces that it has acquired the entire issued share capital of Bio Pure Technology Limited (Bio Pure) for £8.5 million.  Bio Pure will operate as part of our Watson-Marlow Pumps Group (WMPG).
 
Bio Pure, based in Portsmouth, specialises in the design and production of advanced single-use tubing connector systems for the biopharmaceutical industry.  The business was established in 1998 by Roy Maunder, who will continue with Bio Pure as a Non-Executive Director.  We are pleased that Steven Feasey will continue as Sales Director.
 
WMPG already has a strong commercial relationship with Bio Pure, jointly promoting Watson-Marlow tubing and Bio Pure connectors to shared customers, where both Bio Pure and Watson‑Marlow products are integrated into customers' equipment.  There is therefore clear synergy and significant growth opportunities presented by bringing together Bio Pure's product range and WMPG's products to meet the needs of the rapidly growing single-use biopharmaceutical market.  The acquisition strengthens WMPG's presence in both the biotechnology and pharmaceutical industries.  In particular, Bio Pure complements WMPG's existing range of Flexicon peristaltic filling systems, easing customer validation in demanding contamination-free dispensing applications.
 
The purchase consideration excludes any cash or debt balances and will be financed from the Group's existing cash resources.  The acquisition is expected to provide a small benefit to Group earnings per share from 2014.