Weir completes acquisition of Townley
Summary by AI BETAClose X
28 August 2025
Press Release
Weir completes acquisition of Townley
Weir has completed the acquisition of Townley Engineering and Manufacturing Co., Inc. and Townley Foundry & Machine Co., Inc. (combined "Townley"), effective today. This follows the announcement on 18 June 2025 of our agreement to acquire Townley, which is a leading manufacturer of high-quality engineered products for minerals processing, for a sterling equivalent1 enterprise value of £111m (US$150m).
Jon Stanton, Chief Executive Officer said:
"We are delighted to welcome Townley to Weir. Townley is a highly complementary addition; completing this acquisition will further strengthen Weir's presence in North America, increasing our footprint in the attractive phosphate market, a key mineral in modern fertilisers.
Townley's US foundry and manufacturing capabilities will enable Weir to drive further localisation and reduce lead times within our North American markets, aligning strongly with customer needs and completing Minerals' global casting capacity requirements."
Integration and financial impact
Townley will be integrated and reported within the North American region of the Minerals division, strengthening its manufacturing footprint and market channels while further growing the service centre network in the region.
We expect Townley's revenue contribution in the current year to be c.£20m from the period of ownership with low double digit operating profit margins; however, this contribution does not result in a change to Weir's full year 2025 financial guidance as of 31 July 2025.
Notes:
1. Purchase settled in USD at spot of 1.35
Disclaimer
This information includes 'forward-looking statements'. All statements other than statements of historical fact included in this release, including, without limitation, those regarding The Weir Group PLC's (the "Group") financial position, business strategy, plans (including development plans and objectives relating to the Group's products and services) and objectives of management for future operations, are forward-looking statements. These statements contain the words "anticipate", "believe", "intend", "estimate", "expect" and words of similar meaning. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Group to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Group's present and future business strategies and the environment in which the Group will operate in the future. These forward-looking statements speak only as at the date of this document. The Group expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Past business and financial performance cannot be relied on as an indication of future performance.
About The Weir Group PLC
Founded in 1871, The Weir Group PLC is one of the world's leading engineering businesses with a purpose to make its mining and infrastructure customers' operations more sustainable and efficient. Weir's highly engineered technology and digital solutions enable critical resources to be produced using less energy, water and waste while reducing customers' total cost of ownership. The Group is ideally positioned to benefit from structural trends that support long-term demand for its technology including the need for more essential metals to support economic development and carbon transition. The Group has c.12,000 employees operating in over 50 countries with a presence in every major mining region of the world. Find out more at www.global.weir.
Weir's ordinary shares trade on the London Stock Exchange (ticker: WEIR LN) and its American Depositary Receipts trade over-the-counter in the USA (ticker: WEGRY).
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Enquiries: |
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Investors: Philip Carlisle |
+44 (0)141 308 3617 |
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Media: Sally Jones |
+44 (0)141 308 3666 |
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CDR: Claire de Groot
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+44 (0) 207 638 9571 weir@cdrconsultancy.com
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