US Firm TA Associates buys Medical Division of the UK firm Smiths Group

Zack William06 Aug, 2021Business

The US private equity firm TA Associates is buying the medical division of the UK engineering firm Smiths Group in a $2.3bn (£1.7bn) deal. It is part of the latest string of UK acquisitions by overseas buyers. The Smiths Medical makes ventilators, syringe pumps, and tracheostomy tubes for hospitals worldwide. Its sale effectively breaks up the FTSE 100-listed engineering conglomerate.