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Engineering firm IMI PLC on Monday said it has completed the €98 million acquisition of Bahr Modultechnik Holding GmbH.
At the end of May, Birmingham, England-based IMI announced the proposed acquisition of Luhden, Germany-based Bahr.
IMI Chief Executive Roy Twite said: ‘I would like to welcome Bahr and all its employees to IMI. With Bahr's differentiated electric actuator capability, we have created a significant opportunity to enhance IMI's current position in the industrial automation market.’
Shares in IMI were down 2.3% to 1,284.00 pence each in London on Monday morning.
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