Completion of Smiths Interconnect sale

Smiths

01/04/2026 07:00

RNS Number : 9298Y

Smiths Group PLC

01 April 2026

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION

 

FOR IMMEDIATE RELEASE

 

1 April 2026

 

SMITHS GROUP PLC

 

 

 

Completion of Smiths Interconnect sale

 

Smiths Group plc ('Smiths') is pleased to announce that it has completed the sale of Smiths Interconnect to Molex Electronic Technologies Holdings, LLC ("Molex", a Koch company) in accordance with the terms of the sale agreement entered into between the parties. The transaction was originally announced on 16 October 2025.

 

The transaction provides immediate cash proceeds of approximately £1.3bn for Smiths Interconnect. As confirmed with the Company's half year results, Smiths is fulfilling its commitment to return £1bn of the cash proceeds to shareholders, in the form of a share buyback programme which is currently underway. The balance of the cash proceeds will be used to invest in value creative growth opportunities for Smiths, and to further reinforce its strong balance sheet.

 

 

Commenting on the sale, Roland Carter, CEO of Smiths, said:

"Completing the sale of Smiths Interconnect marks an important moment for Smiths as we focus Smiths as a high-performance industrial engineering company, well placed to deliver significant value for all our stakeholders."

 

"On behalf of everyone at Smiths, I'd like to thank our Smiths Interconnect colleagues for their many contributions over the years, the legacy of innovation and technical expertise they have developed positions them well for the future and we wish them every success moving forward with Molex."

 

 

 

ENDS

 

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) 2037271340Smiths@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. 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 
  END

 

 
DISQFLFXQXLXBBE