REG - Smiths Group PLC - BINDING AGREEMENT SIGNED RE SMITHS INTERCONNECT

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RNS Number : 1018L  Smiths Group PLC  11 December 2025

11 December 2025

SMITHS GROUP PLC

SMITHS SIGNS BINDING AGREEMENT TO SELL SMITHS INTERCONNECT TO MOLEX

Further to announcement on 16 October 2025, Smiths Group plc ("Smiths")
announces that it has exercised its previously announced put option and has
now entered into a binding share purchase agreement for the previously
announced sale of Smiths Interconnect to Molex Electronic Technologies
Holdings, LLC ("Molex", a Koch company) (the "Transaction"). As announced
previously, the Transaction values Smiths Interconnect at an enterprise value
of £1.3bn, representing 15.1x Headline EBITDA of £86.1m(1) for the fiscal
year 2025. Smiths will receive cash consideration for the Transaction which is
subject to customary adjustments for working capital, cash and debt.

Smiths announced on 16 October 2025 that it had entered into a put option
agreement (the "Put Option") with Molex. Pursuant to the Put Option, following
the completion of an information and consultation process (the "French
Employment Consultation") with Smiths Interconnect's French works council,
Smiths has the unilateral and unconditional right to require Molex to enter
into a binding share purchase agreement on the terms reflected in the
Transaction.

The French Employment Consultation has now been completed. Accordingly, Smiths
announces that it has exercised the Put Option and has now entered into a
binding share purchase agreement with Molex for the sale of Smiths
Interconnect.

The Transaction remains subject to the satisfaction of customary conditions
and regulatory approvals, and completion of the Transaction is expected to
take place in the second half of fiscal year 2026.

(1) Based on Headline FY2025 EBITDA, which excludes the contribution from the
US sub-systems business unit of Smiths Interconnect, which was reported as
agreed for sale in Smiths' full year 2025 results, and which completed in
October 2025.

ENDS

 IR contacts                                                      Media contacts

 Siobhán Andrews, Smiths Group                                    Tom Steiner, Smiths Group

+44 (0) 7920 230093
+44 (0)7787415891
 siobhan.andrews@smiths.com (mailto:siobhan.andrews@smiths.com)   tom.steiner@Smiths.com (mailto:tom.steiner@smiths.com)

 Ana Pita da Veiga, Smiths Group                                  Alex Le May, FTI Consulting

+44 (0) 2037271340
 +44 (0)7386 689442                                               Smiths@fticonsulting.com (mailto:smiths@fticonsulting.com)

 ana.pitadaveiga@Smiths.com

 Company Secretary

 Matthew Whyte

 +44 (0) 7775 982879

 matthew.whyte@Smiths.com (mailto:matthew.whyte@smiths.com)

 

About Smiths Group

For over 170 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 and construction.

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
employ c.16,000 colleagues in over 50 countries. For more, visit
www.smiths.com (http://www.smiths.com) .

Legal Entity Identifier (LEI): 213800MJL6IPZS3ASA11

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