Spirax-Sarco Engineering, the thermal energy management and niche pumping specialist, completed the acquisition of Vulcanic, a European industrial electric heating group, from Qualium, a French private equity company, for €262m. "We are looking forward to welcoming colleagues from Vulcanic into our Group. We have been following Vulcanic for some time and believe the acquisition represents an excellent opportunity to broaden our addressable market and further deploy our industry leading technologies in Europe. Vulcanic's existing strength and scale in Europe - with further investment by our Group - will provide a fantastic platform for growth, especially for our recently launched portfolio of TargetZero solutions, which electrify heat generation for industrial processes to support our customers' decarbonisation objectives," Nicholas Anderson, Spirax-Sarco Engineering CEO.