REG - Smiths Group PLC - Completion of Smiths Interconnect sale

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RNS Number : 9298Y  Smiths Group PLC  01 April 2026

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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                                                      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

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
(http://www.smiths.com) .

 

 

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