Weir strengthens US operations with £111m deal – Daily Business

Weir, the Glasgow-based mining technology company, is acquiring two US-based engineering businesses producing products for minerals processing.

Townley Engineering and Manufacturing Co and Townley Foundry & Machine Co have an enterprise value of £111m ($150m).

The acquisition will strengthen Weir’s market channels and manufacturing footprint in North America, including in the phosphate market, a key mineral in modern fertilisers, essential for global food security and accessibility.

Townley’s operations, which include a foundry, and urethane and rubber products manufacturing, are based in Ocala, within the phosphate mining region of north central Florida. These operations also serve Townley’s extensive branch service network across the United States, as well as distributor partners in Canada and Central America.

Jon Stanton, chief executive of Weir, said: “The acquisition of Townley will significantly enhance our geographic presence in North America, enabling us to serve customers in the region more effectively and sustainably.

“It enhances our domestic manufacturing platform and strengthens Weir’s position in the attractive market for phosphate, an important mineral in the fertilisers that are needed to support population growth.

“Townley is a highly complementary addition to Weir. We are looking forward to welcoming the team of more than 360 colleagues to Weir and are excited by the opportunity to combine our expertise to enhance productivity and sustainability for our customers.”

The transaction is expected to complete in Q3 2025, subject to the customary US antitrust approvals. Post-completion, the business will be integrated into the North American region within Weir’s minerals division.

The deal will be financed from existing debt facilities and has no impact to Weir’s previous net debt guidance for fiscal years 2025 and 2026.

Weir, which once had major engineering operations in Scotland, no longer manufactures in the country.