Romaco to join major US engineering group

Romaco, the leading supplier of processing and packaging equipment for the pharmaceutical, healthcare and cosmetics sectors, is now part of Robbins & Myers. The final purchase price, allied to Romaco's financial performance for 2001, is expected to be in the region of $113-118m (€121-126m).

Romaco will operate as a standalone business of R&M and its existing management and structure remains unchanged.

R&M is a US-based public company which has annual revenues of around $420m(€450m). The company is a leading global manufacturer and marketer of fluids management equipment. Its product range includes Chemineer, Nimix and Pfaudler.

Romaco's chairman and founder Brian Fenwick-Smith said, 'All of us within Romaco are proud of our accomplishments over the past decade: our impressive growth rate reflects the success of our focused market strategy. However, Romaco's continuing expansion requires a level of investment which is difficult to maintain as a privately-held company. As part of the R&M family, Romaco will undoubtedly benefit from greater access to investment capital for the ongoing development of its product range, both internally and by acquisition.'

Gerald Connelly, president and ceo of R&M, said, 'R&M is committed to a market-focused strategy. The addition of Romaco strengthens our position as a leading supplier of critical equipment to the growing global pharmaceutical market. This acquisition increases R&M's participation in this market to around 40% of total sales and creates a new platform for global growth.'

Romaco's UK operation is based in Huntingdon, Cambridgeshire, and has a staff of 50. Managing director Brian Moore said, 'This is very positive news for Romaco and its customers. As part of R&M, Romaco will be able to continue its strategy of growth through innovation and dedication to its customers. We look forward to offering an even larger range of products and services in the future.'