Technical products specialist expands global footprint with £15.5m acquisitions

A London-based technical products and services specialist has expanded its international footprint with its latest duo of acquisitions.

Diploma PLC has acquired Yorkshire-based firm DMR Seals and Australian medical consumables manufacturer Sphere Surgical in deals worth up to £15.5m.

DMR Seals, which employs 35 staff at its base in Sheffield, has been purchased for for an initial consideration of £6.9m and a maximum consideration of £7.5m, and will report as part of the Seals Sector.

Melbourne-based Sphere Surgical specialises in surgical consumable products, and will will form part of Big Green Surgical following the acquisition. The company was acquired for a minimum consideration of £6.6m (A$12.0m) and maximum consideration of £8.0m (A$14.5m)

In a statement issued this morning (September 25), Diploma PLC commented: “DMR Seals is a well-established UK distributor of bespoke machined seals and gaskets to OEMs operating in a broad mix of industries, including oil & gas, chemicals, pharmaceuticals, food and heavy industry.

“The business complements our existing UK Seals businesses and will report into the FPE management team.

Commenting on the Australian acquisition, the company added: “There is a growing market for obesity products and Sphere Surgical’s gastric products complement our existing surgical product range in Australia.”