Business
BINDING AGREEMENT SIGNED RE SMITHS INTERCONNECT
Smiths Group plc has entered into a binding agreement to sell Smiths Interconnect to Molex Electronic Technologies Holdings, LLC for an enterprise value of £1.3bn, representing 15.1x the fiscal year 2025 Headline EBITDA of £86.1m. This transaction follows the completion of the French Employment Consultation and the exercise of a previously announced put option. The sale is subject to customary conditions and regulatory approvals, with completion anticipated in the second half of fiscal year 2026. Disclaimer*
About this update from Smiths Group Plc
[{"type":"text","content":"\n\n11 December 2025\nSMITHS GROUP PLC\nSMITHS SIGNS BINDING AGREEMENT TO SELL SMITHS INTERCONNECT TO MOLEX\nFurther 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 £86.1m1 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.\nSmiths 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.\nThe 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.\nThe 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.\n1 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.\nENDS\n\n\n\n\nIR contacts\nSiobhán Andrews, Smiths Group \n+44 (0) 7920 230093 [email protected]\n \nAna Pita da Veiga, Smiths Group\n+44 (0)7386 689442\[email protected]\n \n\n\nMedia contacts\nTom Steiner, Smiths Group \n+44 (0)7787415891 [email protected]\n \nAlex Le May, FTI Consulting \n+44 (0) 2037271340 [email protected]\n\n\n\n\nCompany Secretary\nMatthew Wh...