IMI Purchases CorSolutions for $10 million

IMI, a British engineering company formerly known as Imperial Metal Industries, has purchased CorSolutions, a New York based supplier and producer of laboratory equipment for $10 million.

CorSolutions will add microfluidic proficiencies to IMI’s capabilities collection and will join their Precision Fluid Original Equipment Manufacturer division.

The engineering business has already got Adaptas Solutions under its umbrella, which they purchased late last year. CorSolutions will work well alongside this previous acquisition, as a significant new member of its life sciences divisions, allowing them to gain entree to crucial growth and expansion opportunities to fulfil rising demand.

IMI’s current facilities will be used to finance the $10m, with further funds allocated contingent upon reaching specific future milestones.

IMI’s Chief Executive, Roy Twite, explained that the company is able to “create tremendous value by solving acute customer problems in attractive markets, supported by selective acquisitions that enhance our capabilities and growth potential.”

“CorSolutions is an incredibly innovative business that expands our opportunities in the growing life sciences sector. We are excited by both the plans for growth and the opportunity to enhance shareholder value by realising synergies with our Adaptas business.”

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