Spectris PLC (LSE:SXS) has sold its NDC Technologies business for £130mln to bolster its balance sheet.
NDC, part of Spectris' industrial solutions division, designs and produces process measurement and control instruments for food, bulk and tobacco businesses among others.
Acquirer Nordson will integrate the business within its Advanced Technologies Solutions segment, said the statement.
In 2020, NDC made adjusted operating profits of £7.2mln.
Andrew Heath, Spectris’ chief executive, added: "In 2019, we identified five divestment candidates in our portfolio optimisation strategy and we have now completed that programme.
“I am pleased with the value that this programme has delivered for our shareholders. Additionally, with this portfolio optimisation programme completed, Spectris is now a less complex and more focused business.”