Smiths Group plc to acquire United Flexible, Inc., from Arlington Capital Partners for an enterprise value of $345m.

Smiths Group plc has entered into an agreement to acquire United Flexible, Inc., a provider of flexible and rigid engineered solutions for the transfer of fluids and gases in performance-critical environments, from Arlington Capital Partners, private equity firm. The offer values United Flexible, Inc. at $345m. Andy Reynolds Smith, Chief Executive of Smiths Group, said: "This acquisition is consistent with our strategy of high-grading the portfolio for growth, through organic and inorganic investment as well as active portfolio management. Flex-Tek has a track record of consistent delivery, underpinned by strong market positions and operational performance. The acquisition of United Flexible will strengthen our position in aerospace and industrial end markets globally. United Flexible is a high-quality growth business with complementary positions on a number of growing aerospace platforms and in industrial markets. I am delighted to welcome the United Flexible team to Smiths Group."