Valve engineering group Rotork has acquired the entire share capital of the operating companies of the Schischek group of companies, which design, manufacture and sell explosion-proof electric actuators.
The acquisition will be made for €41m, which will be paid using cash reserves and committed bank facilities. Rotork will also be assuming net debt of €1.3m. The sum of €4.1m will be held in escrow for 12 months as security for warranties under the sale agreements.
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