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Investing.com -- IMI has agreed to sell its Truflo Marine business to Fairbanks Morse Defense for £225 million, the company announced Monday.
Truflo Marine is a leading provider of mission-critical valves and actuators to naval submarine programs worldwide.
IMI stated that the sale aligns with its role as an active manager and further focuses the company on three growth trends: energy, automation, and healthcare.
The transaction remains subject to certain regulatory and other approvals, with completion expected in mid-2026.
UBS analysts noted that the sale appears "very sensible" from a strategic perspective, especially considering the significant step-up in growth and profitability, and the increased time and resources required to manage this small defense niche within IMI.
The analysts believe proceeds will likely be returned to shareholders, following IMI’s recent moves to incorporate buybacks.
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