Qinetiq sells Spectro to SFW Capital Partners

UK defence technology company Qinetiq has agreed to the sale of Spectro, a supplier of oil and fuel analysis instrumentation based in Littleton, Massachusetts.

The disposal to SFW Capital Partners is for a total cash consideration of $20.5m (£12.6m), which is expected to generate approximately $17m net proceeds after tax and costs.

Spectro was part of Qinetiq’s Global Products business and had revenues of $19.5m in the year ended 31 March 2011.