Industrial thermal system manufacturer, Watlow, has signed an agreement to acquire Eurotherm from Schneider Electric.
The terms of the transaction were not disclosed.
Eurotherm is a global provider of temperature, power, and process control, measurement and data management equipment, systems, software, and services for industrial markets.
The company’s headquarters are in Worthing, UK, with core manufacturing operations in Lędziny, Poland, and a headcount of about 650 people worldwide.
Watlow CEO, Rob Gilmore, said the company is excited to invest in this innovative product portfolio and professional team.
“Combining Eurotherm’s complementary controls technologies with Watlow’s focus on thermal systems, our shared engineer-to-engineer sales models and our focus on common markets will allow Watlow and Eurotherm to better serve all of our respective customers,” Gilmore said.
“We are impressed with Eurotherm’s heritage in the controls industry and strong reputation for innovation and quality, so we are looking forward to welcoming the Eurotherm team to Watlow.”
Gilmore said Watlow is investing aggressively right now, including development of its operations in Europe and Asia to ensure support is provided to customers regardless of location.
“This acquisition will help us expand our presence in Europe and extend our electronics and controls capabilities globally,” he said.
Eurotherm managing director, Chris Ashworth, said Watlow is a known leader in the industry.
“I believe that combining our strengths will open new opportunities and create value for our customers,” Ashworth said.
Since 1922, Watlow has grown in product capability, market experience and global reach. The company holds more than 1100 patents and employs more than 4,200 team members working in 13 manufacturing facilities and five advanced technology and development centres in the United States, Mexico, Europe and Asia.