IMI plc (“IMI”) announces that it has agreed to acquire iSMA CONTROLLI S.p.A. (“iSMA CONTROLLI”) from its current shareholders, including B.group and members of the management team. iSMA CONTROLLI, a leading provider of intelligent building automation systems, will become part of IMI’s Climate Control sector.

 

iSMA CONTROLLI’s differentiated, open and scalable building automation platform significantly expands IMI’s smart?connected product range, enabling more advanced monitoring, optimisation and control in commercial buildings. IMI’s long-standing customer relationships provide a strong platform to scale iSMA CONTROLLI’s innovative solutions.

      

The acquisition has an enterprise value of €63m, with cash consideration funded from IMI’s existing facilities. In the financial year ending 31 December 2026, iSMA CONTROLLI is expected to generate revenue of approximately €40m and operating profit of approximately €4.5m. Completion is expected in the fourth quarter of 2026, subject to customary regulatory approvals.

 

Commenting on the acquisition, Roy Twite, Chief Executive Officer of IMI, said:

 

“We are delighted to welcome the iSMA CONTROLLI team to IMI. The acquisition aligns IMI even more closely with the long-term megatrends of Energy and Automation, and strengthens our ability to deliver smart?connected solutions that help customers optimise building performance, improve energy efficiency and lower operating costs. iSMA CONTROLLI is particularly well positioned to address the needs of underserved small and medium-sized commercial buildings, and we are excited by what we can achieve together.”

 

Michele Monacelli, Chief Executive Officer of iSMA CONTROLLI, commented:

 

“Joining IMI marks an exciting new chapter for iSMA CONTROLLI. We are proud of what our team has built and, as part of IMI, we will be able to accelerate innovation, broaden our reach and deliver even greater value for our customers and partners. We share the same values as IMI: customer proximity, quality, competence and long-term vision. We look forward to supporting IMI’s growth in intelligent, energy-efficient building solutions.”