Buys US hazardous material detection specialist for $75M Smiths Group (QS2A.SG)
is acquiring the business and assets of SensIR Technologies LLC
, a manufacturer of infrared-based analysers, for a total of $75 million (£41m).
The newly acquired business will add significantly to the range of technologies and equipment of Smiths Detection, one of the company's four operating divisions.
"The second acquisition for Smiths Detection this year is a further step in building a technology-led business to serve the diverse detection market," commented Keith Butler-Wheelhouse, chief executive of Smiths Group. "SensIR brings new technology to us, strengthening our ability to support those in the front line who make the world a safer place."
SensIR supplies analysers for the identification of potentially hazardous substances in solid and liquid form. Its products are principally used by military forces and the emergency services, notably first responders, hazmat (hazardous material) teams and fire services worldwide.
In the 12 months to March 2004, the turnover of the SensIR business being acquired was $37 million. Smiths Group is satisfying the acquisition in cash and it is expected to close during May, subject to regulatory approvals.
Smiths Group designs and manufactures safety critical systems and products, and has market leading positions in aerospace systems, detection systems, medical devices, mechanical seals, and interconnect products.