A management group has acquired Eurotherm Gauging Systems Inc. of Billerica. Terms of the April 1 leveraged buyout were not disclosed.
Eurotherm Gauging Systems was a division of Eurotherm International Inc. of Worthing, England, operating within London-based Invensys plc.
The newly independent firm employs 120 and, in Billerica, makes specialized product-measurement and control systems for converters and others using film, sheet and coating processes. Sales and service offices are in Limburg, Germany, and Newbury, England.
John Sharood, previously with Eurotherm International, was named president of Eurotherm Gauging. He succeeds Vince Chambers, who was president since 1997 and will continue as senior vice president. The other principal is Senior Vice President Richard Murphy, a Eurotherm Gauging veteran.
The company will continue working closely with other Invensys businesses, Wonderware, Foxboro, Eurotherm Controls and Eurotherm Drives, Sharood said in a news release.
Eurotherm Gauging intends to invest in research and development and global expansion in its core areas, Murphy said.
