Spirax-Sarco, a thermal energy management and niche pumping specialist, completed the acquisition of Durex International, a specialist in custom electric thermal solutions for ultra-high criticality industrial equipment, for $342m. "We are excited about this opportunity to further strengthen our ETS Business and look forward to welcoming colleagues from Durex into our Group. We have great respect and admiration for Durex that has grown and developed under the skilful leadership of Ed Hinz, who founded the business over 40 years ago. Ed's impending retirement provided an excellent opportunity for us to broaden our capabilities in key target sectors, accelerating the development of our ETS business in line with our long-term plans," Nicholas Anderson, Spirax-Sarco CEO.