14 April 2004 - Smiths Group is acquiring the business and assets of SensIR Technologies LLC, a leading manufacturer of infrared-based analyzers, for a total of $75 million (£41m). The newly acquired business will add significantly to the range of technologies and equipment of Smiths Detection, one of the company's four operating divisions.
"The second acquisition for Smiths Detection this year is a further step in building a technology-led business to serve the diverse detection market," commented Keith Butler-Wheelhouse, chief executive of Smiths Group. "SensIR brings new technology to us, strengthening our ability to support those in the front line who make the world a safer place."
SensIR supplies analyzers for theentification of potentially hazardous substances in solid and liquid form. Its products are principally used by military forces and the emergency services, notably first responders, hazmat (hazardous material) teams and fire services worldwide.
In the 12 months to March 2004, the turnover of the SensIR business being acquired was $37 million (£21m). Smiths Group is satisfying the acquisition in cash and it is expected to close during May, subject to regulatory approvals.
Smiths Group designs and manufactures safety critical systems and products, and has market leading positions in aerospace systems, detection systems, medical devices, mechanical seals, and interconnect products.
Richard Bayliss Tel: +44 (0)1923 658106
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Notes to Editors About SensIR Technologies LLC The SensIR range of infrared spectroscopy products, established in laboratory and industrial applications, has been successfully extended into homeland defence markets through the development of rugged, portable products. The company has made significant sales to the emergency services (first responders) and military customers in the US, markets currently addressed by Smiths Detection with products that detect gaseous chemicals, and biological agents. SensIR's products detect substances in solid and liquid form. SensIR's most recent product development, HazMatID, was successfully tested by the Department of Defense, resulting in a $3.5 million contract.
Formed in 1995, from a business founded in 1979, SensIR is a privately owned US company with 110 employees, the majority based at its principal facility in Danbury, Connecticut.
Hazmat First Responders are usually Hazmat (hazardous material) teams set up by fire departments. There are several thousand of these teams across the USA, and Smiths Detection is the leading supplier of detection equipment to this sector, with existing products such as APD 2000 and the newly launched 'Bio-Seeq'. http://www.smithsdetection.com/markets.asp?markets=Emergency+services
Second detection acquisition this year The acquisition of SensIR follows the purchase in February of Cyrano Sciences Inc, an 'early stage' technology company which has developed miniature sensors to detect andentify chemical vapours. Cyrano's products complemented the Smiths Detection range and are used in the defence sector and in counter terrorism.
About Smiths Detection Smiths Detection is one of four operating divisions of Smiths Group plc, offering technologically advanced security solutions to detect andentify explosives, chemical & biological agents, weapons and contraband. Employing trace detection technology together with Smiths Heimann x-ray imaging, Smiths Detection provides screening solutions for customers in civil and military markets worldwide.