Smiths Group to Return Sale Proceeds to Shareholders
Smiths Group disclosed earlier this year that it intended to divest both Smiths Interconnect and Smiths Detection, following pressure from shareholders to unlock value through strategic asset sales. The company confirmed it plans to return “a large portion” of the proceeds to investors.
Smiths is already executing a £500 million share buyback, expected to conclude by the end of the year. Details on how the fresh capital infusion will be deployed will be announced in the first quarter of 2026, the company said.
The transaction, slated to close in the first half of 2026, remains subject to regulatory approvals and customary closing conditions.
A Global Footprint and Legal Firepower
Smiths Interconnect operates across 21 locations in 12 countries, including key sites in the U.S., France, Mexico, and Singapore. The company noted that it will consult with its French works council on the transaction as required by French labor law. The council’s opinion, however, will be advisory rather than binding.
Legal representation for the deal includes White & Case LLP advising Smiths Group, while Jones Day represents Molex. The Jones Day team is led by partner Julian Runnicles, with support from associates Mohamed El Erian and Olivia Prioleau, and partners Jonathon Little, Rebecca Swindells, and Mark Jones.
