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Smiths Group divests Microwave Telecoms business

02 May 2017 07:16

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

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

Smiths Group said this divestment was part of the ongoing corporate programme to concentrate the portfolio on scalable market leading positions in the Company's chosen markets.

"The proceeds will be reinvested in attractive growth opportunities for the Company," it said in a statement.

Story provided by StockMarketWire.com

Related Company: SMIN

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