In a bold financial maneuver, Rotork PLC, the UK-based industrial valve specialist, has announced plans to repurchase up to £50 million ($65 million) worth of shares, doubling down on its commitment to returning capital to shareholders while expanding its global footprint.
The FTSE 250-listed company confirmed the buyback program in a statement to the London Stock Exchange (LSE) on Tuesday, revealing that the repurchased shares—each valued at 0.5 pence—will be permanently canceled. The move underscores Rotork’s robust financial health, with executives pointing to strong cash reserves as a driver behind the initiative.
Strategic Growth: Rotork Acquires Noah Actuation for £44M
Alongside the buyback, Rotork has sealed a deal to acquire Noah Actuation Co. Ltd., a privately held South Korean electric actuator manufacturer, for £44 million. The acquisition, expected to finalize within days, aims to bolster Rotork’s position in the electric actuator market, a crucial component in automation and industrial flow control.
“The bolt-on Noah acquisition is consistent with our Growth+ strategy and enhances our electric actuator portfolio,” said Kiet Huynh, Rotork’s CEO. “With Noah’s technology and our international sales network, we see significant potential for long-term revenue synergies.”
This marks a strategic push into Asia’s industrial automation sector, where demand for electric actuators in electric motors is rapidly expanding.
