CVC to acquire Smiths Detection from Smiths Group for £2bn.

CVC, a private equity and investment advisory firm, agreed to acquire Smiths Detection, a provider of threat-detection and screening technologies, from Smiths Group, an industrial technology company, for £2bn. “Today we have reached another significant milestone for Smiths, with the agreement to sell Smiths Detection to CVC for an enterprise value of £2.0bn. This builds on our recently announced sale of Smiths Interconnect and demonstrates strong execution against the strategic actions we set out in January centred on value creation. We are focusing Smiths as a premium industrial engineering company specialising in flow management and thermal solutions, and today’s announcement positions us strongly to deliver enhanced growth and returns. We thank our Smiths Detection colleagues for their significant contribution to Smiths and their help in reaching this milestone,” Roland Carter, Smiths Chief Executive.