Smiths completes £85m sale of SMT unit to Infinite Electronics

Smiths Group said it had completed the sale of its Interconnect's Microwave Telecoms (SMT) business, to Infinite Electronics for an enterprise value of £85m.

Infinite is a portfolio company of Genstar Capital, a San Francisco-based private equity firm.

The divestment is part of the ongoing corporate programme to concentrate the portfolio on scalable positions in the company's chosen markets.

Smiths said the proceeds would be reinvested in “attractive growth opportunities for the company”.

SMT makes components, sub-assemblies, antennas and test system solutions, for the communications, defence, medical, rail and energy markets.