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Smiths Group plc announced on 1 April 2026 the completion of the sale of Smiths Interconnect to Molex Electronic Technologies Holdings, LLC. The transaction generated immediate cash proceeds of approximately £1.3bn for Smiths Interconnect. Smiths Group is fulfilling a commitment to return £1bn of these proceeds to shareholders through a share buyback programme, which is currently underway.
| Date | 1 Apr 2026 |
| Time | 07:00:04 |
| Category | Disposals |
| ID | 9298Y |
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
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IR contacts Siobhán Andrews, Smiths Group
Ana Pita da Veiga, Smiths Group +44 (0)7386 689442
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Media contacts Tom Steiner, Smiths Group
Alex Le May, FTI Consulting |
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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.