U.K.-based CVC, a global private markets investment firm, announced it had acquired Smiths Detection, an airport and critical infrastructure threat-detection firm.
The acquisition leverages CVC’s experience in executing corporate care-outs and scaling for newly independent companies, while taking advantage of Smiths Detection’s leadership in threat detection and security screening technologies.
“We are excited to partner with Jérôme de Chassey and his team,” James Mahoney, partner and head of CVC’s private equity activities in the aviation, defense and space sectors, said. “Smiths Detection’s strong market positions, anchored by its global leadership in aviation, create a compelling platform for long-term value creation.”
Also headquartered in the U.K., Smiths Detection has more than 3,400 employees, including more than 1,100 field service engineers and more than 500 research and development professionals. The company operates facilities across Europe, the United States, and Asia. Smith screening technology for carry-on bags, hold luggage and air cargo at airports serves 47 of the world’s top 50 airports with industry-leading hardware and sector-leading digital capabilities, including automated detection algorithms. The company also provides urban security (screening systems for government and commercial buildings, public venues and spaces) as well as ports and borders security. The business’s leading niche is in chemical threat identification capability for defense end markets.
“Smiths Detection’s industry-leading threat detection and security screening technologies play a crucial role in helping protect people and critical infrastructure worldwide,” Dominic Murphy, a managing partner and co-head of the U.K. private equity team at CVC and Conor Keogh, Managing Director at CVC, said. “We look forward to supporting the business during the next phase of its growth and development through continued investment in technology innovation, high-quality engineering and best-in-class aftermarket service.”