Weir strengthens manufacturing footprint with Townley acquisition
Published by Will Owen,
Editor
Global Mining Review,
Weir has entered into a binding agreement to acquire US-based businesses Townley Engineering and Manufacturing Co., Inc. and Townley Foundry & Machine Co., Inc., a leading manufacturer of high-quality engineered products for minerals processing, for a sterling equivalent enterprise value of £111 million (US$150 million).
The acquisition will strengthen Weir’s market channels and manufacturing footprint in North America, including in the attractive phosphate market, a key mineral in modern fertilisers, essential for global food security and accessibility.
Founded in 1963, Townley is a leading provider of mining wear and abrasion solutions with an extensive product range including slurry pumps, dredge pumps, cast foundry products, valves, urethane parts, hoses, and rubber linings. 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 US, as well as distributor partners in Canada and Central America.
Townley’s footprint of strategic locations will enhance Weir’s existing North American channels to market and provide access to new customers. Its in-region manufacturing capabilities will enable Weir to drive further localisation and lead-time reduction within North America, aligning strongly with customer needs.
Jon Stanton, Chief Executive of Weir, comments:
“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 3Q25, 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 is expected to be EPS accretive in the first full year of ownership with ROIC expected to exceed WACC in 2028. 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.
Read the article online at: https://www.globalminingreview.com/finance-business/20062025/weir-strengthens-manufacturing-footprint-with-townley-acquisition/
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