LONDON (dpa-AFX) - Smiths Group plc (SMIN.L, SMGZY, SMGKF), an industrial technology company, on Tuesday agreed to acquire DRC Heat Transfer for 164 million pounds, representing a multiple of 10x adjusted EBITDA for calendar year 2025.
The completion is anticipated in the second half of fiscal year 2026.
The acquisition is expected to broaden Flex-Tek's thermal solutions capabilities and increase its exposure to high-growth end markets.
The company generated 73 million pounds in revenue in calendar year 2025 and employs more than 250 people.
DRC will be integrated into Smiths' Flex-Tek industrial heat business, expanding its presence in power generation and data centre back-up power markets.
DRC is a designer and manufacturer of custom heat transfer and cooling solutions primarily serving power generators used in data centres.
On Monday, Smiths Group closed trading 1.53% lesser at GBp 2,704 on the London Stock Exchange.
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