LONDON: Smiths Group plc, a leading industrial technology company, announced today that it is acquiring two North American companies, Modular Metal Fabricators, Inc., and Wattco, Inc. for a combined purchase price of up to £110m. These two companies will be integrated respectively into the Heating, Ventilation & Air Conditioning (HVAC) and electrical heating solutions platforms…
All posts tagged Smiths Group
Smiths Group sells 4.9% shares in ICU Medical Inc
LONDON: Smiths Group plc has sold 1.2m shares in ICU Medical Inc, representing approximately 4.9% of ICU Medical’s issued share capital. Smiths will receive net proceeds of c.$152m (£117m) from the sale which will be used for general corporate purposes. Smiths continues to hold 0.47m shares in ICU Medical representing approximately 1.92% of ICU Medical’s…
Smiths Group reports 3.9% increase in organic revenue in 2023
LONDON, UK: Smiths Group PLC, a leader in engineering innovation, has announced a solid half-year performance with a notable 3.9% increase in organic revenue and a 16.5% surge in orders for the first half of the fiscal year ending January 31, 2024. The company remains confident in achieving its full-year organic revenue growth target of…
Smiths Group announces appointment of Steve Williams as Chair of the Board
Smiths Group plc, a leading engineering company, has announced that Steve Williams will be appointed as the new Chair of the Board, subject to his election as a non-executive Director at the Company’s Annual General Meeting to be held on 16 November 2023. This appointment is part of the Company’s orderly succession planning activities. Sir…
Smiths Group to sell Smiths Medical to ICU Medical for $2.4bn
LONDON, UK: Smiths Group plc has agreed the sale of Smiths Medical to ICU Medical Inc in a $2.4 billion deal, a news release said. The ICU Transaction delivers $0.4bn more value to shareholders and carries future material upside through both participation in ICU Medical equity and a $0.1bn ‘earnout’. In light of this, the…