Spectris to acquire Omega Engineering for $475m

Spectris is to acquire Omega Engineering, a US process measurement and control instrumentation company, for $475m (£291m).  

Headquartered in Stamford, Connecticut, Omega has five manufacturing facilities and two distribution/sales facilities, and employs around 700 people.

According to Surrey-based Spectris, Omega had sales of $168m in 2010 and adjusted operating profit before interest and tax of $39.6m, and was cash generative.

The acquisition is expected to enhance adjusted earnings per share in the first full financial year of ownership.