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Further Spectris acquisitions likely this year

Spectris chief executive John O'Higgins has said the company is likely to make more acquisitions in 2012.

17 February 2012

Spectris is planning to make further use of its merger and acquisition advisors this year after enjoying a strong 2011.

The firm, which produces instrumentation and control products, said in its 2011 preliminary results that it is likely to make more purchases over the coming year as it looks to build on the record sales it saw in the last 12 months.

It acquired Omega Engineering at the end of September last year and chief executive John O'Higgins said in an interview with Reuters that he "wouldn't be surprised" if the company makes "some other small acquisitions", but added it is unlikely any will match the scale of the Omega deal, which cost the company $475 million (£300 million).

In addition to Omega, the company made three bolt-on acquisitions in 2011 - Sysmex, IRM and Sixnet - and these purchases contributed seven per cent towards sales, which were up 23 per cent to £1.106 billion.

Posted by David Gleck

Source: Company press release/Reuters, February 17th

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