Smiths Group to acquire Seebach GmbH for €60m
General Industrial
Smiths Group plc ("Smiths Group" or the "Company") today announces that it has agreed to acquire Seebach GmbH, a provider of highly-engineered filtration solutions, from Avedon Capital Partners for an enterprise value of €60m, to integrate into its John Crane division.
The acquisition underlines John Crane’s commitment to accelerate growth in its specialised filtration business, and reflects Management’s confidence for the business’ future prospects.
Seebach GmbH, located in Vellmar, Germany, will complement John Crane’s existing filtration business, further enhancing its technology leadership in energy applications, and providing innovative solutions and capabilities to grow into mission-critical chemical and process industries. The transaction is subject to the satisfaction of certain regulatory conditions and is expected to complete during the second half of FY2018.
Contact details
Investor enquiries
Jemma Spalton, Smiths Group
+44 (0)20 7004 1637
+44 (0)78 6739 0350
jemma.spalton@smiths.com
Marion Le Bot, Smiths Group
+44 (0)20 7004 1672
+44 (0)75 8315 4386
marion.lebot@smiths.com
Media enquiries
Andrew Lorenz, FTI Consulting
+44 (0)20 3727 1323
+44 (0)77 7564 1807
smiths@fticonsulting.com
Deborah Scott, FTI Consulting
+44 (0)203 727 1459
+44 (0)797 953 7449
smiths@fticonsulting.com
About Smiths Group
Smiths Group is a global technology company listed on the London Stock Exchange (SMIN) and operates a sponsored level one ADR programme (SMGZY). A world leader in the practical application of advanced technologies, Smiths Group delivers products and services for the medical technology, security & defence, general industrial, oil & gas, and space & aerospace markets worldwide. Smiths Group employs c.22,000 colleagues in over 50 countries. For more information visit www.smiths.com.