Strix Group Plc has announced the sale of its Billi business to a newly formed Australian entity for £110 million in cash—a move that nearly triples its original investment and supports the company’s strategy to reduce debt.

The AIM-listed technology firm, renowned globally for its kettle safety controls and water-heating components, confirmed that the transaction values Billi at an enterprise value of £110 million on a cash-free, debt-free basis. The sale remains subject to shareholder approval.

Strix originally acquired Billi in November 2022 for £38 million. The divestment now delivers an estimated 3x return on that investment, translating to approximately 47.8 pence per Strix share—an 18% premium over the company’s recent share price.

This strategic move underscores Strix’s commitment to strengthening its balance sheet while sharpening its focus on core operations