February 18, 2019 / 7:24 AM / 3 months ago

Valve maker Spirax-Sarco in talks to buy France's Thermocoax

Feb 18 (Reuters) - Valve maker Spirax-Sarco Engineering Plc said it had started exclusive talks to buy French electrical thermal products maker Thermocoax Developpement for 158 million euros ($178.7 million) to grow in Europe and the United States.

Spirax said it was talking to Chequers Capital, TCR Capital and other minority shareholders to buy Paris-based Thermocoax, which has three plants in Normandy, one in Georgia, United States and a facility in Heidelberg, Germany. ($1 = 0.8843 euros) (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Gopakumar Warrier)

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