TT Electronics buys Roxspur

TT ELECTRONICS yesterday revealed that it has snapped up Roxspur Measurement & Control for an initial fee of £7.5m.

The cost of the deal could rise to £10m, dependent on a further £2.5m payable in 2016 based on performance of the business.

Sheffield-based Roxspur, which makes hi-tech sensors, has companies such as Tata, Rolls Royce and British Energy among its customers.

The deal is expected to be earnings enhancing for TT.