Smiths Group plc (“Smiths Group” or the “Company”) today announces that it has agreed to acquire Seebach GmbH, a provider of highly-engineered filtration solutions, from Avedon Capital Partners for an enterprise value of €60m, to integrate into its John Crane division.
The acquisition underlines John Crane’s commitment to accelerate growth in its specialised filtration business, and reflects Management’s confidence for the business’ future prospects.
Seebach GmbH, located in Vellmar, Germany, will complement John Crane’s existing filtration business, further enhancing its technology leadership in energy applications, and providing innovative solutions and capabilities to grow into mission-critical chemical and process industries. The transaction is subject to the satisfaction of certain regulatory conditions and is expected to complete during the second half of FY2018.
About Smiths Group
Smiths Group is a global technology company listed on the London Stock Exchange (SMIN) and operates a sponsored level one ADR programme (SMGZY). A world leader in the practical application of advanced technologies, Smiths Group delivers products and services for the medical technology, security & defence, general industrial, oil & gas, and space & aerospace markets worldwide. Smiths Group employs c.22,000 colleagues in over 50 countries. For more information visit www.smiths.com.
