IMI adds to portfolio

Birmingham, UK-based IMI has recently completed the acquisition of the severe service valves business of ABB KK in Japan, which was announced on 3 October 2005.

IMI also announced that it has acquired, from private shareholders, Northern Parts and Service, a distributor of food and beverage equipment parts to the US food service industry.

The consideration to be paid in cash for Northern is $15 million. 2005 unaudited revenues were $26 million.

Northern, with a team of 60 people located in Plattsburgh, New York, extends the current beverage parts business within IMI’s Beverage Dispense unit. Beverage and food service parts provision are highly complementary, serving the same customer base.

IMI Executive Director Wayne Whitney, commented: “The strong customer relationships of Northern, together with the capabilities of our existing Beverage Dispense parts operation, position us to provide outstanding parts management solutions to all the leading US food service chains and service agents.”