Specialist engineer Hayward Tyler (LON:HAYT) said it has completed the acquisition of the trade and assets of the Peter Brotherhood business.
The US$15mln acquisition, from German industrial giant Siemens, was announced on 12 October.
Peter Brotherhood is a UK maker of steam turbines and gas compressors, so the business neatly complements Hayward's existing business of electric motors and pumps while bringing in a number of new customers, such as the Keppel Shipyard.
The Peter Brotherhood business has been going for some 150 years, which makes it a relative newcomer in comparison to the 200-year-old Hayward Tyler, but it has a long and distinguished history, and the plan is to run it as a separate stand-alone entity and revive the brand in much the same way the Hayward Tyler brand has been successfully reinvigorated in recent years.