REG - Strix Group PLC - Completion of the Disposal of Billi

StrixAnnouncement

30/01/2026 13:15

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RNS Number : 1433R  Strix Group PLC  30 January 2026

30 January 2026

 

Strix Group Plc

 

("Strix", the "Group" or the "Company")

 

Completion of the Disposal of Billi

Further to its announcement on 19 December 2025, Strix Group Plc (AIM:KETL),
the global leader in the design, manufacture and supply of kettle safety
controls and other components and devices involving water heating and
temperature control, steam management and water filtration, announces that,
following satisfaction of the condition to completion under the terms of the
sale and purchase agreement entered into on 19 December 2025, Strix UK Limited
has today completed the sale of the Billi business (comprising Strix Australia
Pty Ltd and each regional subsidiary) to Birmingham Bidco Pty Ltd (the
"Disposal").

The net proceeds of the Disposal, which have been received by the Company are
approximately £105 million after estimated closing adjustments, leaving net
cash on completion of c.£35 million.

As announced on 19 December 2025, the Company intends to utilise the net
proceeds to repay its existing debt facilities and to launch a £10 million
share buyback programme. A further announcement in respect of the share
buyback programme will be made next week.

The Board continues to review ways of efficiently returning additional capital
to shareholders and will provide a further update in due course.

Whilst market conditions remain challenging, the early indications of
post-tariff improvement in the Controls division experienced in Q4 have
continued to build. As a result of the recent trading volatility however, the
final quarter has become a more important trading period than has historically
been the case. The Board will provide a further trading update in due course.

 

For further enquiries, please contact:

 

 Strix Group Plc                                                            +44 (0) 1624 829829
 Gary Lamb, Chairman

 Mark Bartlett, CEO

 Clare Foster, CFO

 Zeus (Nominated Advisor, Joint Financial Adviser and Joint Broker)         +44 (0) 20 3829 5000
 Jordan Warburton / Louisa Waddell (Investment Banking)

 Dominic King (Corporate Broking)

 Stifel Nicolaus Europe Limited (Joint Financial Adviser and Joint Broker)  +44 (0) 20 7710 7600
 Matthew Blawat / Phillip McCreanor

 Gracechurch Group (Financial PR and IR)                                    +44 (0) 204 582 3500
 Heather Armstrong / Claire Norbury

 

 

Information on Strix

 

Founded in 1982, Isle of Man based Strix is a global leader in the design,
manufacture and supply of kettle safety controls and other components and
devices involving water heating and temperature control, steam management and
water filtration.

 

Strix has built up market leading capability and know-how, expanding into
complementary products and technologies. The Group's brands include Aqua
Optima and LAICA providing our customers with market leading water solutions
on a global basis.

 

Strix is quoted on the AIM Market of the London Stock Exchange (AIM: KETL).

 

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