Rotork acquires Xylem Flow Control for £18m

2nd Jul 2014 12:41

Rotork, the market-leading actuator manufacturer company, has acquired Xylem Flow Control for £18m to expand the sales and coverage of its Midland-branded products.XFC will be renamed Rotork Midland, which will be under the group's ownership, and will sit within the Rotork Instruments division alongside brands, Soldo and YTC.The company, which is based in Wolverhampton, generated earnings before interest tax depreciation and amortisation (EBITDA) of £2m on turnover of £14.9m in 2013 based on management accounts.Chief Executive Officer Peter France said: "XFC is a long standing supplier of high quality solenoid valves and an excellent addition to our Instrumentsdivision."As of 13:02 the share price had dropped 0.2% to 2672p.WS