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Birmingham Post
Birmingham Post
Business
Jon Robinson

Smart thermostat maker Heatmiser to be taken over in near £120m deal

Sarah Kay Martyn IMI United Kingdom Australia China Europe New Zealand South Africa

A smart thermostat maker has agreed to be taken over in a deal that could rise to £118m.

Blackburn-based Heatmiser is to be bought by Solihull-headquartered IMI plc for £110m. A further £8m could be paid out depending on the company's future financial performance.

Heatmiser was founded in 1968 by Gordon Kay and employed 101 people at the end of 2021.

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