Spirax Group plc

History

The company was founded by Herman Sanders in 1888 and after a Mr Rehders joined the business, established as Sanders, Rehders & Co. ('Sarco') in London. Initially, it focused upon the importing of thermostatic steam traps from Germany. During 1932, Sarco commenced the domestic manufacture of steam traps under the Spirax brand name. Between 1952 and 1968, the business was headed by Lionel Northcroft.

In 1959, it was listed on the London Stock Exchange as Spirax-Sarco Engineering. During 1960, Spirax-Sarco launched its first range of self-acting pressure controls. Three years later, it acquired Drayton Controls, a rival control valve and instrumentation business.

During 1990, the company diversified into pump manufacturing via the purchase of Watson-Marlow. Three years later, Spirax-Sarco also acquired the Jucker Industrial Division, an Italian controls business; another firm, Bredel Hose Pumps, a manufacturer of high-pressure hose pumps, followed in 1996. During 2001, M&M International, an Italian piston actuated and solenoid valve business was also purchased. In September 2005, it acquired Mitech Actuators & Controls and Proportional Control Technology, a pair of South African businesses making process controls. Later that same year, it also bought EMCO Flow Systems, a metering business.

The company was negatively impacted by the onset of the Great Recession during the late 2000s, but was observing signs of recovery within two years. In early 2009, Spirax Sarco acquired the Turkish distributor Intervalf in exchange for £2.8 million. During the following year, it completed a new facility in Shanghai, China: the plant, which functions as Spirax's regional headquarters, combines a factory, warehouse, and offices. That same year, the firm launched a £25 million initiative to modernise and consolidate its manufacturing and research and development operations around Cheltenham, Gloucestershire.

In 2011, the Minister for UK Trade & Investment, Lord Green, opened Spirax Sarco's new facility in Saint Petersburg, Russia. During May 2012, Deputy Prime Minister Nick Clegg visited Spirax Sarco’s manufacturing facility in Cheltenham. In May 2012, there was a shareholder revolt following Spirax-Sarco's payment of £783,660 to a former executive director; the company compounded the situation by failing to inform the markets of the shareholder revolt as required by the Listing Rules. During November 2012, the company bought Termodinámica, a distributor based in Santiago de Chile, for £3.3 million. In February 2019, following regulatory clearance from US, French and German officials, Spirax-Sarco acquired Thermocoax, a multinational manufacturer of mineral insulated cable.