IMI plc Acquires Analytical Flow Products
IMI plc ("IMI"), the international engineering group, today announces the acquisition of Analytical Flow Products (AFP).
AFP has an innovative range of products for the precise control of fluids in chromatography as well as for the testing of the purity of gases in refineries. The distribution of these products will be rapidly increased through Fluid Power's extensive sales network.
AFP also has a track record of producing a stream of new products for Life Sciences and Energy applications, having generated 14 patents and patent applications, and will become a technology development centre for Fluid Power.
IMI paid an initial consideration of £5m for AFP and could potentially pay further deferred consideration of up to £36m based on performance over the next 5 years.
AFP is located in Thetford Mines, Quebec, Canada and its senior management and employees will be transferring to IMI.