15 October 2007

Smiths Group acquisition extends capabilities in energy sector

SMITHS Group, the global technology business, today announces the acquisition of Sartorius Bearing Technology (SBT), part of Sartorius AG.

SBT, a leading provider of high performance rotating equipment for the oil and gas industry based in Gottingen, Germany, employs around 100 people and is recognised as a leader in the European speciality engineered bearings sector. The company has a varied product portfolio that includes tilting pad bearings for high-speed rotor applications, standard thrust and journal multilobe bearings, and combined bearings for restricted assembly and mounting applications. The total cost of the acquisition is €20 million, which will be satisfied in cash.  The acquisition is subject to regulatory approvals.

SBT will extend Smiths Group’s range of advanced technology products aimed at the turbomachinery industry and will report through John Crane, which is part of Smiths Specialty Engineering.  John Crane designs and manufactures mechanical seals and associated products for the oil & gas, chemical, pharmaceutical, pulp & paper and mining sectors. 

Mike Mansell, Managing Director of John Crane EAA, said: “John Crane has an unrivalled global sales and service network.  The acquisition of SBT is an important step in our strategy to leverage this network for a wider range of solutions used in high-performance rotating equipment. Together, John Crane and SBT aim to build a global position in bearing technology, one that will complement John Crane’s existing mechanical sealing solutions, couplings and associated technologies and further help our customers achieve their demanding performance goals.

Keith Butler-Wheelhouse, Chief Executive of Smiths Group, said: “The acquisition of SBT marks an important development in Smiths Group’s expansion within the energy sector.  SBT’s bearing technology will enhance John Crane’s peerless offering of high performance seals and associated products and services, and will help to maintain our position as a leading provider of technology and services for the global oil and gas industry.”

ENDS