IMI agrees PS225 million sale of Truflo Marine business to Fairbanks

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IMI PLC on Monday announced the £225 million disposal of its Truflo Marine business to Fairbanks Morse Defense.

The Birmingham based designer of engineering products in fluid and motion control applications expects the deal to complete in mid-2026, subject to certain regulatory and other approvals.

IMI Chief Executive Roy Twite said: ‘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.’

Shares in IMI rose 0.8% to 2,406.00 pence each in London on Monday.

Beloit, Wisconsin-based Fairbanks Morse Defense supplies marine technologies, parts, and turnkey services to the US Navy, US Coast Guard, Military Sealift Command, and Canadian Coast Guard amongst others.

Lazard & Co Ltd acted as financial adviser to IMI in relation to the transaction.

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