SP Industries Acquires FTS Systems
February 1, 2007
SP Industries, Warminster, Pa., has acquired FTS Systems, Stone Ridge, N.Y., a manufacturer of precision thermal control systems serving the pharmaceutical, biotechnology, educational, industrial, semiconductor and OEM markets. The acquisition increases SP’s position in freeze-drying products and technology. The value of the acquisition was not disclosed.
FTS’ consistent growth over the past three years, its introduction of the innovative Smart freeze-drying cycle development technology in late 2005 and SP’s desire to expand its existing footprint in this market were among the reasons for the acquisition cited by SP. FTS Systems’ line of products includes freeze dryers, thermal control and temperature forcing systems, controlled-rate freezers and NMR sample coolers.