IMI plc (LON:IMI), a global leader in fluid and motion control, has announces that it has entered into an agreement to sell its Truflo Marine business to Fairbanks Morse Defense for an enterprise value of £225m1.
The sale of Truflo Marine, a leading provider of mission-critical valves and actuators to naval submarine programmes worldwide, reflects our role as active managers of the business and further aligns IMI to three powerful growth trends – energy, automation and healthcare.
The transaction remains subject to certain regulatory and other approvals, with expected completion in mid-2026.
Commenting, Roy Twite, Chief Executive Officer of IMI said:
“We are pleased to announce the sale of Truflo Marine to Fairbanks Morse Defense. This further aligns IMI to the three powerful megatrends we are focused on – energy, automation and healthcare. These megatrends will underpin the delivery of sustainable growth in the years to come.
I would like to thank the Truflo Marine team for their significant contribution to the Group and wish them the best in the next stage of their journey. I am confident that they have a great home in Fairbanks Morse Defense, an organisation that values their expertise and is committed to investing in the skills that drive the success of the business.”
Lazard & Co., Limited is acting as financial adviser to IMI in relation to the transaction. Addleshaw Goddard LLP is acting as legal adviser to IMI.
