Smiths Group has agreed to the proposed sale of Smiths Detection to funds advised by CVC Capital Partners. The proposed transaction values Smiths Detection at an enterprise value of £2.0bn (US$2.6bn).
Headquartered in the UK, Smiths Detection employs 3,400 people and operates from facilities across Europe, the USA and Asia. It provides screening technology for carry-on bags, hold luggage and air cargo at airports, and currently serves 47 of the world’s top 50 airports.
The transaction is subject to customary regulatory approvals and is expected to close in the second half of 2026. Barclays acted as financial advisor and Latham & Watkins acted as legal counsel to CVC.
In related news, Smiths Detection was selected for Dubai’s checkpoint upgrade earlier this year