Smiths Group (LSE:SMIN) has reached a deal to divest its security screening and threat-detection division, Smiths Detection, to funds managed by CVC Capital Partners for £2.0 billion ($2.64 billion), inclusive of cash and debt.

The engineering group said on Wednesday that it expects the sale to close in the second half of 2026. Smiths Group intends to return a substantial share of the net proceeds to shareholders, with further information on the method and timing to be provided at a later stage.

The latest divestment comes on the heels of October’s announced sale of Smiths Interconnect. Combined, the two transactions carry a total enterprise value of £3.3 billion, according to the London-based company.

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