(Reuters) - Smiths Group
United Flexible, which has operations in the United States and Europe, makes products that are used in Airbus
The deal comes after the British engineering group's talks with U.S.-based ICU Medical Inc
Smiths Group expects to fund the deal from existing cash and bank facilities, and said that United Flexible would be integrated into its Flex-Tek division, which provides heating components to the aerospace, construction and medical industries.
United Flexible is expected to generate sales of $157 million and adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of $32 million for 2018, it said.
Gleacher Shacklock LLP was financial adviser to Smiths Group on the transaction.
(Reporting by Shashwat Awasthi in Bengaluru; Editing by Gopakumar Warrier)