Weir – a global leader in mining technology – has entered into a binding agreement to acquire US-based businesses Townley Engineering and Manufacturing and Townley Foundry and Machine – a leading manufacturer of high-quality engineered products for minerals processing – for a sterling equivalent enterprise value of £111m (US$150m).
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. An established name with complementary portfolio and North American footprint 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 United States, 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.
Commenting on the agreement, Jon Stanton, CEO 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 company expects to complete the transaction in Q3 2025, pending customary US antitrust approvals. After completion, Weir will integrate the business into its North American region within the minerals division. The company anticipates the deal to boost EPS in the first full year of ownership, with ROIC projected to exceed WACC by 2028. Weird will finance the deal using existing debt facilities, ensuring no impact on its previous net debt guidance for fiscal years 2025 and 2026.
Find out more at www.Global.Weir.
Comments