REG - IMI PLC - IMI agrees sale of Truflo Marine

IMIAnnouncement

Today 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251124:nRSX7003Ia&default-theme=true

RNS Number : 7003I  IMI PLC  24 November 2025

24 November 2025

 

IMI agrees sale of Truflo Marine to Fairbanks Morse Defense

 

IMI plc ("IMI" or the "Group"), a global leader in fluid and motion control,
today announces that it has entered into an agreement to sell its Truflo
Marine business to Fairbanks Morse Defense for an enterprise value of
£225m(1).

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.

 

 Enquiries to:
 Edward Hann    IMI         Tel: +44 (0)7977 354 810
 Faeth Birch    FGS Global  Tel: +44 (0)7768 943 171
 James Gray     FGS Global  Tel: +44 (0)7814 379 412
                            IMI-UK@fgsglobal.com (mailto:IMI-UK@fgsglobal.com)

Note 1: The enterprise value of £225m includes an adjustment for £5m of
lease liabilities treated as debt under IFRS. The equivalent enterprise value
under US GAAP, where these lease liabilities are not treated as debt, is
£220m.

 

Notes

IMI plc is a global leader in fluid and motion control. Its innovative
solutions, built around valves and actuators, enable vital sectors to become
safer, more productive and more energy efficient. IMI combines world-class
applications engineering expertise with a focus on commercial excellence,
market-led innovation and continuous improvement to solve its customers most
acute engineering problems. IMI employs approximately 10,000 people, has
manufacturing facilities in 18 countries and operates a global service
network. IMI is a member of the FTSE 100 and is listed on the London Stock
Exchange. Further information is available at www.imiplc.com
(http://www.imiplc.com) .

IMI plc is registered in England No. 714275. Its legal entity identifier
('LEI') number is 138002W9Q21PF751R30.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DISEAKFLAFNSFEA



            Copyright 2019 Regulatory News Service, all rights reserved