Smiths Group expects to receive about USD 2bn in net proceeds from the sale
Private equity group CVC Capital Partners has agreed to acquire Smiths Detection, one of the world’s largest suppliers of airport security screening equipment, in a USD 2.2bn deal that marks a further step in Smiths Group’s shift towards a more focused industrial engineering business.
UK-headquartered Smiths Detection employs about 3,400 people and is a major player in aviation security, supplying screening systems for carry-on bags, hold baggage and cargo at airports around the world. The company serves 47 of the world’s 50 busiest airports and is best known for its 3D computed tomography scanners, which allow passengers to keep liquids and laptops inside their bags while software scans for explosives and other threats.
Beyond aviation, Smiths Detection provides inspection systems for ports and borders, cargo and vehicle screening, and security applications for government buildings, public venues and other critical infrastructure. It also has chemical threat-detection capabilities for defence customers, giving the business exposure across both civil security and military markets.
Smiths Group expects to receive about USD 2bn in net proceeds from the sale. The transaction is due to complete in the second half of 2026, subject to regulatory approvals and consultation requirements with employees in France.
The deal follows another significant portfolio change for Smiths earlier this year, after it agreed to sell Smiths Interconnect in October. Together, the two disposals represent a combined enterprise value of USD 3.5bn and implement a strategy announced in January to exit non-core operations and reposition the group as a “high-performance industrial engineering company”. Smiths’ remaining businesses include John Crane, which focuses on flow management, and Flex-Tek, which specialises in thermal solutions.
Smiths said it intends to return a large portion of the proceeds to shareholders, in addition to an existing USD 1.25bn share buyback programme, while allocating the remainder to growth investments and small strategic acquisitions.
For CVC, the acquisition brings a global security technology business with a large installed base and recurring aftermarket revenues. Dominic Murphy, a managing partner at CVC, said Smiths Detection’s screening and threat-detection technologies play a critical role in protecting people and infrastructure worldwide, adding that the firm plans to invest further in technology, engineering and services.
Smiths Detection reported revenue of USD 1bn and headline operating profit of USD 150m for the year to 31 July 2025, supported by strong demand for next-generation CT scanners and a multi-year order book led by aviation customers.
