Spirax-Sarco Engineering plc
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Spirax-Sarco Engineering plc - overview
Established
1958
Location
Cheltenham, Gloucestershire, UK
Primary Industry
Business Support Services
About
Spirax-Sarco Engineering plc is a provider of innovative thermal energy and fluid technology solutions aimed at enhancing efficiency and safety in critical industrial processes. Founded in 1958 and headquartered in Cheltenham, UK, Spirax-Sarco Engineering plc specializes in thermal energy and fluid technology solutions for various industrial sectors. The company has not undergone any significant pivots or changes in its business strategy since its inception and does not have any known subsidiaries. Mark Vernon serves as the CEO of the company, which has maintained a consistent focus on providing tailored industrial solutions.
Spirax Group specializes in providing innovative thermal energy and fluid technology solutions designed to enhance the operational efficiency and safety of critical industrial processes. Core product offerings include advanced decarbonisation solutions that utilize proprietary technologies to electrify boilers for steam raising and other essential industrial heating applications, effectively eliminating scope 1 and 2 greenhouse gas emissions when paired with green electricity sources. Their comprehensive suite of solutions also encompasses steam, thermal, and fluid management technologies that cater to diverse industries such as pharmaceuticals, food and beverage, and chemical processing. The company serves a global clientele, with notable markets including North America, Europe, and parts of Asia, where they address specific challenges faced by customers seeking to optimize energy use and reduce environmental impact.
For the full year 2023, Spirax Group reported a revenue of GBP 2,093,045,256. 90, reflecting a 4% organic revenue growth. The company operates primarily on a B2B model, establishing direct partnerships with industrial clients across multiple sectors. Transactions typically involve tailored contracts where clients engage Spirax Group for customized solutions designed to meet their operational needs, such as steam systems or fluid technology services.
The company’s flagship offerings, which include their decarbonisation technologies and other proprietary solutions, are priced according to specific project requirements and customer specifications. Such structured agreements ensure that clients receive comprehensive service packages, enhancing both their operational performance and sustainability objectives.
Primary Industry
Business Support Services
Sub Industries
Engineering, Heating, Cooling & Ventilation Equipment and Services
Website
www.spiraxsarcoengineering.com
Total Amount Raised
Subscriber access only
Spirax-Sarco Engineering plc - timeline of key events
Spirax-Sarco Engineering plc - financials
| Fiscal Year Ended | Dec 31, 2010 | Dec 31, 2011 | Dec 31, 2012 | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 589,746,000 | 649,991,000 | 661,723,000 | 689,388,000 | 678,277,000 | 667,214,000 | 757,400,000 | 998,700,000 | 1,153,300,000 | 1,242,400,000 | 1,193,400,000 | - | - | - |
| % Revenue Growth (YoY) | - | 10.2% | 1.8% | 4.2% | (1.6%) | (1.6%) | 13.5% | 31.9% | 15.5% | 7.7% | (3.9%) | - | - | - |
| EBITDA (USD) | 143,961,000 | 150,326,000 | 150,685,000 | 173,718,000 | 174,894,000 | 172,107,000 | 207,200,000 | 253,100,000 | 357,200,000 | 321,600,000 | 345,800,000 | - | - | - |
| Operating Income (USD) | 121,396,000 | 129,498,000 | 125,714,000 | 147,040,000 | 148,095,000 | 142,809,000 | 174,100,000 | 198,900,000 | 299,100,000 | 245,000,000 | 270,400,000 | - | - | - |
| Operating Margin | 20.6% | 19.9% | 19.0% | 21.3% | 21.8% | 21.4% | 23.0% | 19.9% | 25.9% | 19.7% | 22.7% | - | - | - |
| % EBITDA Margin | 24.4% | 23.1% | 22.8% | 25.2% | 25.8% | 25.8% | 27.4% | 25.3% | 31.0% | 25.9% | 29.0% | - | - | - |
| NET Income (USD) | 86,654,000 | 93,238,000 | 90,245,000 | 102,320,000 | 100,573,000 | 96,743,000 | 121,300,000 | 157,900,000 | 223,400,000 | 167,000,000 | 189,500,000 | - | - | - |
| % Net Margin | 14.7% | 14.3% | 13.6% | 14.8% | 14.8% | 14.5% | 16.0% | 15.8% | 19.4% | 13.4% | 15.9% | - | - | - |
Spirax-Sarco Engineering plc - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on, Corporate Carve Out | Announced | SPH Sustainable Process Heat GmbH | - | ||||||||
| Trade Sale | Completed | Vulcanic Group | - | ||||||||
| Trade Sale | Announced | Vulcanic Group | - | ||||||||
| Trade Sale | Completed | Thermocoax SAS | - | ||||||||
| Trade Sale | Completed | Chromalox, Inc. | - |
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Spirax-Sarco Engineering plc - employee data
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