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© mikael damkier dreamstime.com Business | October 17, 2018

Smiths Group to acquire United Flexible

Smiths Group plc has entered into an agreement to acquire United Flexible, Inc., a provider of flexible and rigid engineered solutions for the transfer of fluids and gases in performance-critical environments, from Arlington Capital Partners for an enterprise value of USD 345 million.
The acquisition of United Flexible, which will be integrated into the Group’s Flex-Tek division, is aimed at strengthening Flex-Tek’s positions in aerospace and industrial end markets globally. United Flexible already supports important aerospace platforms, including the A320neo and PW1000G and F135 engines. It has 4 operations in the US and 3 in Europe, to enhance Flex-Tek’s geographic footprint.

Completion of the acquisition is expected to take place in the second half of FY2019 and is conditional upon regulatory clearances in the US, as well as other customary closing conditions.

Andy Reynolds Smith, Chief Executive of Smiths Group, said in a press statement: "This acquisition is consistent with our strategy of high-grading the portfolio for growth, through organic and inorganic investment as well as active portfolio management. Flex-Tek has a track record of consistent delivery, underpinned by strong market positions and operational performance. The acquisition of United Flexible will strengthen Flex-Tek’s position in aerospace and industrial end markets globally. United Flexible is a high-quality growth business with complementary positions in industrial markets and on a number of growing aerospace platforms. I am delighted to welcome the United Flexible team to Smiths Group.”
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November 14 2018 11:24 am V11.8.1-1