Ashcroft Inc. (Ashcroft) announced plans to acquire Rüeger Holdings SA (Rüeger) in Switzerland and STIKO Meetapparatenfabriek BV (Stiko) in the Netherlands, both of which are professional manufacturers of temperature and pressure measurement products. The transaction is expected to be completed in the next few days.
Rüeger is a recognized leader in the field of high-tech temperature and pressure measurement products, with factories in Switzerland, Germany, China and Malaysia. Rüeger's highly reliable measurement solutions include a comprehensive range of mechanical and electronic measuring instruments. Rüeger's innovation spans more than 75 years, leading the development of multipoint temperature sensors for critical applications in oil refineries and petrochemical reactors, as well as proprietary technology for extremely high-precision temperature monitoring up to 1050°C.
STIKO is a professional manufacturer of temperature and pressure measuring instruments and laboratory calibration products in Roden, the Netherlands. Stiko's custom products were established more than 50 years ago and are tailored for safety-critical applications in the SubSia, oil/gas, marine, pharmaceutical, and food/beverage markets.
Ashcroft President and CEO Steve A. Culmone said: "I am pleased to announce that Ashcroft Inc. has acquired Rüeger and Stiko, leveraging the power of a strong global brand and adding an impressive portfolio of high-tech products and solutions. This will increase our value to customers around the world and accelerate our participation in the markets we serve.
This merger will strengthen Ashcroft's focus on protecting the people, processes and profits of our customers, and will promote strong execution of global growth.
This is a very exciting opportunity for the company, our employees, our partners and customers. Our greatest asset has always been our employees, and through this acquisition, we will continue to strengthen the quality of this asset. "
Bernard Rüeger, President of Rüeger Holdings SA, said: "We are very confident that thanks to the new global market synergy and the complementarity of our respective products, the Rüeger brand will continue to successfully develop within Ashcroft."
