Ashcroft Announces Acquisition of Rüeger SA and Stiko BV

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    STRATFORD, Conn.–(BUSINESS WIRE)–Ashcroft Inc. (Ashcroft) announced the planned acquisition of
    Swiss-based Rüeger Holdings SA (Rüeger) and Dutch-based STIKO
    Meetapparatenfabriek B.V. (Stiko), both manufacturers of specialty
    temperature and pressure measurement products. The transaction is
    expected to close in the coming days.

    Rüeger is a recognized leader in highly engineered temperature and
    pressure measurement products, with locations in Switzerland, Germany,
    China and Malaysia. Rüeger’s high reliability measurement solutions
    include a comprehensive array of mechanical and electronic measurement
    instruments. Rüeger’s innovation has spanned over 75 years leading to
    the development of multi-point temperature sensors for critical Refining
    and Petrochemical reactor applications, and proprietary technology for
    extremely high accuracy temperature sensing up to 1050°C.

    Stiko is a specialized manufacturer of temperature and pressure
    measurement instruments as well as laboratory calibration products based
    in Roden, Netherlands. Founded over 50 years ago, Stiko’s customized
    products are tailored for safety critical applications in the Subsea,
    Oil/Gas, Marine, Pharmaceutical and Food/Beverage markets.

    Steven A. Culmone, President and CEO of Ashcroft stated, “I am excited
    to announce the acquisition of Rüeger and Stiko by Ashcroft Inc.,
    leveraging the power of strong global brands and adding an impressive
    portfolio of highly engineered products and solutions. This will enhance
    our value to worldwide customers and will accelerate our penetration
    into our served markets.

    Ashcroft’s focus on protection of our customers’ people, processes and
    profits will be reinforced with this merger and allow for aggressive
    execution of global growth.

    This is a very exciting opportunity for the company, for our employees,
    our partners and customers. Our greatest assets have always been our
    people, and by this acquisition we will continue to strengthen the
    quality of that asset.”

    Bernard Rüeger, Chairman of Rüeger Holdings SA stated, “We are very
    confident that the Rüeger brand will continue to grow successfully
    within Ashcroft, thanks to new market synergies around the world and the
    complementary nature of our respective products.”

    ABOUT ASHCROFT

    Ashcroft was founded over 165 years ago with a mission to protect our
    customers with a brand recognized for reliability and innovation in the
    fields of pressure and temperature measurement. Ashcroft maintains
    operations in the United States, Mexico, Brazil, Germany, China and
    Singapore along with over 235 channel partners in 55 countries
    supporting our customers around the world. Ashcroft is headquartered in
    Stratford, CT, USA and is a subsidiary of Nagano Keiki Co., Ltd. based
    in Tokyo, Japan.

    http://ashcroft.com

    ABOUT RÜEGER & STIKO

    https://rueger.com
    https://stiko.com

    Contacts

    Sheila Nevins
    VP Human Resources
    T +01 203 385 0612
    E [email protected]