Completion of DRC Heat Transfer acquisition

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SMITHS GROUP PLC

Completion of DRC Heat Transfer acquisition

Smiths Group plc (‘Smiths’) is pleased to announce that it has completed the purchase of DRC Heat Transfer (‘DRC’) in accordance with the terms of the purchase agreement entered into between the parties. The transaction was originally announced on 3 March 2026.

DRC will be integrated into Flex-Tek's Thermal Solutions business and is consistent with the strategy of building into high growth adjacencies. DRC will enable Flex-Tek to serve a wider customer group in fast growing end markets with products and solutions that are additive to Flex-Tek's existing portfolio. In particular, the acquisition will strengthen Flex-Tek's presence in the power generation market where growth is underpinned by significant structural growth trends, such as data centre back-up power, and other mission-critical applications.

Commenting on the acquisition, Roland Carter, CEO of Smiths, said:
“The acquisition of DRC further demonstrates our focus on value creative growth and delivering on our strategy at pace and with discipline. I am delighted to welcome the DRC team to Smiths as we continue to demonstrate the delivery of sustainable value across our business.”

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IR contacts

Siobhán Andrews, Smiths Group
+44 (0) 7920 230093
siobhan.andrews@smiths.com

Ana Pita da Veiga, Smiths Group
+44 (0)7386 689442
ana.pitadaveiga@Smiths.com

Media contacts

Tom Steiner, Smiths Group
+44 (0)7787415891
tom.steiner@Smiths.com

Alex Le May, FTI Consulting
+44 (0) 2037271340
Smiths@fticonsulting.com

Legal Entity Identifier (LEI): 213800MJL6IPZS3ASA11

About Smiths Group

For 175 years, we have been pioneers of progress, engineering a better future. Our strategy is to be a focused, efficient and value creating industrial engineering company operating in the attractive and growing market segments of energy, industrials, construction and aerospace.

We focus on solving the toughest problems for our customers, helping address critical global needs such as decarbonisation and the ever-increasing demand for process and energy efficiency. Listed on the London Stock Exchange, we are present in over 50 countries worldwide. For more, visit www.smiths.com.