Bold move in private markets: CVC to acquire Smiths Detection for £2bn, signaling confidence in security-screening innovation and global airport safety. This deal, announced by one of the world's leading private markets firms, sees CVC purchase Smiths Detection from Smiths Group plc. With a track record of successfully executing corporate carve-outs and scaling newly independent companies, CVC aims to amplify Smiths Detection’s market leadership and unlock meaningful, long-term value.
Headquartered in the United Kingdom, Smiths Detection employs about 3,400 people, including more than 1,100 field service engineers and over 500 researchers and developers. Its footprint spans Europe, the United States, and Asia. The company holds the global number-one position in aviation security, delivering screening technology for carry-on bags, checked baggage, and air cargo at airports. It serves 47 of the world’s top 50 airports and combines industry-leading hardware with advanced digital capabilities, such as automated detection algorithms. Beyond aviation, Smiths Detection serves other critical infrastructure segments, including urban security (screening systems for government and commercial buildings, public venues, and spaces) and ports and borders (cargo and vehicle inspection). The business also maintains a leading niche capability in chemical threat identification for defense applications.
Speaking on the deal, Dominic Murphy, a managing partner and co-head of CVC’s UK private equity team, alongside Conor Keogh, Managing Director at CVC, emphasized the strategic fit. “Smiths Detection’s industry-leading threat detection and security-screening technologies play a crucial role in protecting people and critical infrastructure worldwide. We plan to support the company’s growth through ongoing investment in technology innovation, top-tier engineering, and best-in-class aftermarket service.”
James Mahoney, Partner and head of CVC’s private equity activities in Aviation, Defence & Space, added: “We’re excited to partner with Jérôme de Chassey and his team. Smiths Detection’s robust market positions, anchored by its aviation leadership, provide a strong platform for durable long-term value creation.”
The transaction remains subject to customary regulatory approvals and is expected to close in the second half of 2026. Barclays served as financial advisor and Latham & Watkins provided legal counsel to CVC.
The investment will be executed through CVC Capital Partners IX.
