UK’s valve maker Spirax-Sarco in talks to acquire Vulcanic Group

(Reuters) – Valve maker Spirax-Sarco Engineering said on Monday it had entered exclusive negotiations with French private-equity firm Qualium to acquire Vulcanic Group of Companies for 261.7 million euros ($272.87 million) on a cash-and-debt-free basis.

The British company expects acquisition of Vulcanic, an European industrial electric heating group, to be accretive to earnings in 2022.

($1 = 0.9590 euros)

(Reporting by Shanima A in Bengaluru; Editing by Sherry Jacob-Phillips)