Business
Completion of the Disposal of Billi
Strix Group Plc has completed the sale of its Billi business for approximately £105 million in net proceeds, resulting in net cash of around £35 million. The company plans to use these proceeds to repay existing debt and initiate a £10 million share buyback program, with further capital return strategies under review. Despite challenging market conditions, the Controls division has shown early signs of improvement following tariff adjustments, with the final quarter proving to be a critical trading period. Disclaimer*
About this update from Strix Group Plc
[{"type":"text","content":"\n\n30 January 2026\n \nStrix Group Plc\n \n(\"Strix\", the \"Group\" or the \"Company\")\n \nCompletion of the Disposal of Billi\nFurther to its announcement on 19 December 2025, Strix Group Plc (AIM:KETL), the global leader in the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration, announces that, following satisfaction of the condition to completion under the terms of the sale and purchase agreement entered into on 19 December 2025, Strix UK Limited has today completed the sale of the Billi business (comprising Strix Australia Pty Ltd and each regional subsidiary) to Birmingham Bidco Pty Ltd (the \"Disposal\").\nThe net proceeds of the Disposal, which have been received by the Company are approximately £105 million after estimated closing adjustments, leaving net cash on completion of c.£35 million.\nAs announced on 19 December 2025, the Company intends to utilise the net proceeds to repay its existing debt facilities and to launch a £10 million share buyback programme. A further announcement in respect of the share buyback programme will be made next week.\nThe Board continues to review ways of efficiently returning additional capital to shareholders and will provide a further update in due course.\nWhilst market conditions remain challenging, the early indications of post-tariff improvement in the Controls division experienced in Q4 have continued to build. As a result of the recent trading volatility however, the final quarter has become a more important trading period than has historically been the case. The Board will provide a further trading update in due course.\n \nFor further enquiries, please contact:\n \n\n\n\n\nStrix Group Plc\n\n\n+44 (0) 1624 829829\n\n\n\n\nGary Lamb, Chairman\nMark Bartlett, CEO\nClare Foster, CFO\n \n \n\n\n\n\n\n\n\nZeus (Nominated Advisor, Joint Financial Adviser and Joint Broker)\n\n\n+44 (0) 20 3829 5000 \n\n\n\n\nJordan Warburton / Louisa Waddell (Investment Banking)\nDominic King (Corporate Broking)\n \n \n\n\n\n\n\n\n\n\nStifel Nicolaus Europe Limited (Joint Financial Adviser and Joint Broker)\n\n\n+44 (0) 20 7710 7600\n\n\n\n\nMatthew Blawat / Phillip McCreanor\n \n\n\n\n\n\n\n\nGracechurch Group (Fin...