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Engineered Ceramics, a unit of SPX Corporation

 

Client and Buyer:  Porvair plc

Porvair plc’s wholly owned subsidiary Selee Corporation based in Hendersonville, North Carolina is a provider of open-pore ceramic foam for molten metal filtration applications. The company's products are used in the design and manufacture of porous technical ceramics and metals for a range of demanding industrial applications.  Based in King’s Lynn United Kingdom Porvair plc is a public company traded on the London Stock Exchange (PRV.L)

Seller:  SPX Corporation, Lindberg Business Unit

Engineered Ceramics (“EC”) is a US-based manufacturer of high performance products for the molten metal and thermal processing industries and has a strong position in supplying

the investment casting industry, a market in which Porvair’s subsidiary Selee has a fast growing presence.

Transaction Details:

Porvair acquired Engineered Ceramics from the Lindberg business unit of SPX Corporation for a total consideration of $5.8m.  Commenting on the transaction, Ben Stocks, Chief Executive of Porvair plc said: 'The acquisition of Engineered Ceramics creates scope for further growth in

revenues and profitability from Selee. The combination of EC's product base, Selee's sales force and Porvair's new materials pipeline, will enable us to continue to grow in this dynamic part of our business.'

Broker/Dealer:  Not Applicable (pre-FINRA regulation)

Completion:  February 2001