Private equity firm CVC Capital Partners has reached an agreement to acquire Smiths Detection, which produces screening equipment deployed in major airports around the world, for more than $2 billion.
UK-based Smiths Group is selling its security detection division as part of a broader effort to focus on core competencies, particularly thermal solutions. Smiths Detection has screening equipment deployed in 47 of the world’s 50 busiest airports, CVC noted.
Smiths Group said it expects to receive net cash proceeds of £1.85 billion ($2.2 billion) from CVC. The proposed sale is expected to close in the second half of 2026, according to CVC. The transaction is subject to regulatory approvals.
Smiths Detection is best known for its 3D computed tomography (CT) carry-on baggage scanners deployed at airport security checkpoints. The scanners are aimed at providing a level of detection that allows passengers to keep liquids and laptops in bags.
“The CT technology applies sophisticated algorithms for the detection of explosives and other threats by creating a 3D image that can be viewed and rotated 360 deg. for a thorough analysis,” according to TSA.
Smiths Detection has 3,400 employees, including more than 1,100 field service engineers and over 500 R&D professionals, across facilities in Europe, the U.S. and Asia.
“Smiths Detection’s strong market positions, anchored by its global leadership in aviation, create a compelling platform for long-term value creation,” said James Mahoney, head of CVC’s private equity activities in aviation, defense and space.
“Demand for our leading detection products translates into a strong orderbook and continued high levels of installation activity of our next-generation detection technology,” Smiths Group said in a November trading update.
For the financial year ended July 31, Smiths Detection’s revenue grew 15.2% year over year to £963 million. Smiths Group said the detection division “successfully [converted] its strong orderbook into revenue … Looking ahead, [Smith’s Detection’s] multi-year orderbook remains strong with growth to continue to be supported by … aviation.” Smiths Group reported “strong demand for the latest range of 3D-image CT machines.”
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