IMI acquires Bopp & Reuther
Posted on 19 Jan 2015. Edited by: John Hunter. Read 3324 times.
IMI, the Birmingham-based engineering group, has completed its £120 million acquisition of Bopp & Reuther, a German control valve business. This is expected to deliver synergies of about £7 million by the end of 2017. Bopp & Reuther’s revenues in 2013 were £71.1 million.
IMI said the transaction will extend the range of products offered by its CCI engineering business to include complementary semi-severe valves. It is also forecast to increase CCI’s business in China and India, where the power markets are forecast to grow 5-7% per annum over the next five years.
IMI chief executive Mark Selway (pictured) said: “This acquisition provides a meaningful addition to our capabilities.”