LONDON: British engineering company Smiths Group Plc (SMIN.L) said on Wednesday it has agreed to sell its Smiths Detection business to funds advised by private equity firm CVC Capital Partners for an enterprise value of 2.0 billion pounds ($2.55 billion). The proposed deal marks the second major divestment by Smiths as it executes a…
BINDING AGREEMENT SIGNED RE SMITHS INTERCONNECT LONDON: Smiths Group plc has entered into an agreement for the sale of Smiths Interconnect to Molex Electronic Technologies Holdings, LLC . The transaction values Smiths Interconnect at an enterprise value of £1.3bn, representing 15.1x headline EBITDA of £86.1m for the fiscal year 2025. Smiths will receive cash consideration for the…
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…
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…
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.…
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,…