UK: IMI plc has completed the acquisition of smart domestic thermostat manufacturer Heatmiser.
Under the £110m deal, first announced in November, Heatmiser will become part of IMI’s HVAC business IMI Hydronic Engineering.
Heatmiser is one of the UK’s leading smart thermostatic control manufacturers for radiant systems, enabling homeowners to accurately control heating and cooling in each room remotely.
Following completion of the deal, IMI chief executive Roy Twite said: “We have created a significant opportunity to accelerate our growth in smart buildings. Our combined expertise will help solve key industry problems, enable more energy efficient buildings and deliver our purpose: Breakthrough Engineering for a better world.”