This Research Note examines the acquisition of Italian building automation specialist iSMA CONTROLLI by IMI plc, the UK-listed engineering group.  We explore the transaction details, strategic rationale, the target company profile and IMI’s Climate Control sector, before commenting on the deal. Transaction Details IMI plc announced on 7th October 2026 that it has agreed to acquire iSMA CONTROLLI S.p.A. from its current shareholders, including B.group and members of the management team. iSMA CONTROLLI, a provider of intelligent building automation systems, will become part of IMI’s Climate Control sector. 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. Strategic Rationale Roy Twite, Chief Executive Officer of IMI, said: “The acquisition aligns […]