IMI acquires Canadian firm Flow Products

22nd Aug 2013 07:04

International engineering group IMI on Thursday announced the acquisition of Canadian firm Analytical Flow Products (AFP). IMI paid an initial consideration of £5m for the company, and said it would pay up to a further £36m based on its performance over the next five years. AFP has developed a range of products for the precise control of fluids in chromatography, as well as for the testing of the purity of gases in refineries. IMI said it would rapidly increase the distribution of these products through its Fluid Power business, which is headed by Roy Twite. "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," the group added. NR