SPX enters agreement to acquire Clyde Union Pumps

Manufacturing and industrial equipment supplier SPX has entered into a definitive agreement with Clyde Blowers Capital, SCF-VI Offshore, Appleby Nominees (Jersey) and certain members of Clyde Union management to acquire Clyde Union Pumps.

The acquisition purchase price is £700m and includes a potential earn out of up to £50m based upon the acquired company¹s
2012 EBITDA.

The transaction is subject to customary closing conditions and is expected to be completed in the fourth quarter of this year.

Clyde Union Pumps is a supplier of pump technologies for oil and gas processing, power generation and other industrial applications.