Cheltenham-based Spirax-Sarco Engineering has announced its decision to rebrand as Spirax Group.

The change reflects the development of the company over many years into a larger and stronger group of three aligned businesses with differentiated and complementary capabilities:

• Steam Thermal Solutions (previously Steam Specialties)
• Electric Thermal Solutions
• Watson-Marlow Fluid Technology Solutions

Together as Spirax Group, the company says these businesses are united in their purpose to engineer a more efficient, safer and sustainable world.

The firm said in a statement today: "Our new name balances our history and where we have come from, with who we are today. It creates more distinction between the group and its Spirax Sarco trading division (part of Steam Thermal Solutions), providing improved clarity for all stakeholders."

Group chief executive officer Nimesh Patel said: "This is a natural evolution for our company which is home to three strong solutions-focused businesses that improve the efficiency and safety of critical industrial processes across our customers' thermal energy and fluid technology activities.

"As Spirax Group we can help everyone better understand who we are and how we work together across our businesses to help customers meet their operational, sustainability and decarbonisation goals."

Spirax Group also has a new website with updated brand.

The group is also proposing to change its legal name to Spirax Group plc. This is subject to shareholder approval through a special resolution at the Company's AGM in May 2024.

Shareholders should note that their shareholdings will be unaffected by the commercial rebrand or proposed legal name change. There is no impact on the group's financial reporting and the group will retain the stock market ticker SPX.