Bimba

IMI Precision Engineering agreed to acquire Bimba, a maker of pneumatic, hydraulic and electric motion products with a US distributor network, for $198 million. Completion is expected in early 2018 subject to merger clearance and ESOP approval.

Bimba, a pneumatic and motion solutions company, has acquired Vaccon Company, a Massachusetts-based maker of vacuum pumps, vacuum cups and end-of-arm tools. Vaccon will keep operating from its current location under its existing management.