Published: December 19, 2025 at 8:58 am
Strix Group Plc has agreed to sell its Billi business to a new Australian entity for £110 million in cash, nearly tripling its money as the firm looks to accelerate debt reduction.
The AIM-listed company, which is a global leader in kettle safety controls and water-heating components, said the disposal values Billi at an enterprise value of £110m on a cash-free, debt-free basis, subject to shareholder approval.
The deal represents an approximate 3x return on the company’s original £38m investment when it acquired Billi in November 2022 and equates to around 47.8p per Strix share, a premium of about 18% to the recent share price.
Billi is a premium provider of instant boiling, chilled and sparkling filtered water systems and has continued to perform strongly under Isle of Man-headquartered Strix’s ownership, delivering double-digit growth at constant exchange rates.
For 2025, the business is expected to generate revenues of around £47m and adjusted EBITDA of approximately £10m.