Rotork acquires two new companies

29th Sep 2015 07:03

(ShareCast News) - Rotork has purchased Roto Hammer Industries and Servo Moteurs Service for over £9m.The FTSE 250 listed actuator manufacturer and flow control company announced the acquisitions on Tuesday.Roto Hammer, which manufactures custom-designed chain wheel manual valve operators in Tulsa, Oklahoma, USA, was purchased for $12.4m (£8.17m) and in 2014 generated an operating profit of $1.9m (£1.2m).It will sit within the Rotork Gears division.Rotork's second acquisition Servo Moteurs Service, which is an actuator service business located in the south of France, was purchased for €1.4m (£1.04m).Chief executive Peter France commented that the two companies are important acqusitions."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 Servo Moteurs Service in the South of France is another important step forward in the development of our direct service offering to our customers."