Smiths Announces Two Acquisitions in North America

British industrial technology company Smiths Group PLC announced Tuesday that it has agreed to acquire two North American companies, Modular Metal Fabricators Inc. and Wattco Inc., for a combined 110 million pounds ($147 million). The acquisitions are part of Smiths’ strategy to expand its presence in the heating, ventilation, air conditioning (HVAC) and electric heating markets in North America.

Strategic expansion in HVAC and electric heating

Smiths plans to integrate Modular Metal Fabricators, a U.S. manufacturer of sheet metal and duct fasteners, into its HVAC business. At the same time, Montreal-based Wattco, a manufacturer of industrial electric heaters, will join Smiths’ electric heating solutions business as part of its Flex-Tek division. Flex-Tek specializes in components such as flexible hoses and pipes for the aerospace and building air-conditioning sectors.

Smiths CEO Roland Carter said these “strategic and considered acquisitions” will strengthen the company’s HVAC and electric heating solutions by adding new products, broadening its customer base and expanding its geographic reach.

Smiths Announces Two Acquisitions in North America: Acquisition Details

Modular Metal Fabricators, in business since 1970, serves the HVAC and roofing industries with sheet metal and flexible ductwork. The acquisition, which is expected to close on October 1, 2024, will expand Smiths’ HVAC footprint in the Western U.S.