It has been announced that IMI Prescision Engineering will be acquiring the pneumatic, hydraulic and electric motion solutions manufacturer, Bimba. With this acquisition, IMI will nearly double the size of its US industrial automation business. The group will leverage Bimba’s extensive distribution network to expand its reach across the North American industrial automation market. At the same time, it will leverage IMI’s global presence to offer more Bimba products internationally.
The integration team will focus on presenting a unified approach to the market so that the group can take full advantage of accelerated commercial and distribution opportunities that arise. IMI will begin to roll out its operational improvement processes across Bimba’s manufacturing operations over a twelve-month period, and follow up with a three-year program for synergy delivery and performance improvements. The group forecasts hard synergies in the order of 7% of revenues.
To avoid potential overlap in its new distribution portfolio, IMI will combine its products with complementary ones from Bimba. The new expansive portfolio will combine IMI’s automation components like air-preparation units and valves, with Bimba’s hydraulic, pneumatic, and electrically-actuated cylinders.