Birmingham-based engineering company IMI has acquired a US engineering company in a deal worth £148 million.

Bimba Manufacturing (www.bimba.com), which was founded in 1957 and is based in Chicago, will become part of IMI Precision Engineering’s (www.imi-precision.com) industrial automation business in the USA.

Patrick Ormsby, the long-term president and chief executive of Bimba, said: “This is an exciting step for Bimba, as it becomes a part of an internationally recognised global engineering business.

"We now have the opportunity to grow our business beyond the USA, offer our customers enhanced products and services and compete more effectively.”