RCS - Smiths Group PLC - Smiths Group acquires Duc-Pac Corporation

SmithsAnnouncement

25/03/2025 07:15

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RNS Number : 9494B  Smiths Group PLC  25 March 2025

Smiths Group acquires Duc-Pac Corporation

 

Smiths Group plc, a leading industrial technology company, announces today
that it has acquired Duc-Pac Corporation ('Duc-Pac'), a US-based metal duct
manufacturer for heating, ventilation & air conditioning (HVAC)
applications, for a purchase price of $40.5m (£32m 1 ). The company will be
integrated into the construction segment of Smiths Group's Flex-Tek business.

 

This acquisition is part of Smiths Group's ongoing strategy to build a
nationwide, integrated offer in its North American construction segment.
Duc-Pac expands Smiths Group's geographical metal duct coverage into
north-east USA through its established brand, deep customer relationships and
strong operational business model.

 

The acquisition is compelling as it will enable the business to grow by
increasing its market presence and creating cross-selling opportunities to the
combined customer base.

 

Roland Carter, CEO of Smiths Group, said: "We see an exciting future in our
Flex-Tek business as we continue to invest for growth. We are building a
strong track record of successfully integrating bolt on acquisitions to
augment our strong organic growth.

 

"The acquisition of Duc-Pac enhances our North American construction business,
with many customer synergies and growth opportunities. We offer a very warm
Smiths welcome to the Duc-Pac team!"

 

As with Smiths Group's prior construction bolt-on acquisitions, the Duc-Pac
acquisition will be accretive to Group margin. It was acquired for a 7.2x
trailing 12 months reported EBITDA.

 

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About Smiths Group

 

For over 170 years, Smiths has been pioneering progress by engineering for a
better future. We serve millions of people every year, to help create a safer,
more efficient and productive, and better-connected world across four global
markets: energy, security & defence, space & aerospace and general
industrial. Listed on the London Stock Exchange, Smiths employs c.15,000
colleagues in over 50 countries.  For more information visit www.smiths.com
(http://www.smiths.com/) .

 1  At GBP to USD exchange rate of 1.26

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