Filtration and environmental technology group Porvair Plc have announced last Thursday the acquisition of Thomas Cain Inc. The said announcement did not provide the cost of the acquisition but said that Filtration also signed a technology licensing agreement with a third party, Thermo Electron Manufacturing Ltd.
Thomas Cain is in the business of manufacturing environmental laboratory equipment and consumables. With the acquisition, a complementary range of instruments and consumables are added on to Seal's water quality analysis product line. Seal Analytical's business would then be integrated into Porvair's business.
The third party licensing agreement between Porvair and Thermo would allow for the commercialization of an exclusive range of filters, where Porvair manufactures the products and Thermo does sales and marketing.
As of market close Thursday, share values of Porvair had closed at GBP2.45 pence, placing the enterprise value of the company at GBP107 million. Thermo Electron Manufacturing Ltd is a division of Thermo Fisher Scientific.
Join the Conversation