Press Release

Engine Capital Calls on Smiths Group plc’s Board of Directors to Publicly Commit to Strategic Alternatives Process

Asserts that Smiths Has Persistently Traded at a ‘Conglomerate Discount’ to its Sum of the Parts and its Segment-Level Peers Despite Strong Financials and Operating Performance

Friday, January 17th 2025, 1:10 AM CST

Updated:

Friday, January 17th 2025, 1:16 AM CST

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Asserts that Smiths Has Persistently Traded at a ‘Conglomerate Discount’ to its Sum of the Parts and its Segment-Level Peers Despite Strong Financials and Operating Performance

Believes a Sale of the Entire Company or its Four Businesses Could Deliver a Significant Premium to Smiths’ Current Share Price

Cautions the Board and New CEO Roland Carter Against Pursuing Material Acquisitions While Maintaining its Conglomerate Structure

NEW YORK --(BUSINESS WIRE)

Engine Capital LP (together with its affiliates, "Engine" or "we"), a meaningful shareholder of Smiths Group plc (LSE: SMIN) (the “Company”), today sent a letter calling on the Company’s Board of Directors to publicly commit to a strategic alternatives process aimed at a sale to maximize value for shareholders.

The letter can be viewed and downloaded here.

About Engine Capital

Engine Capital LP is a value-oriented special situations fund that invests both actively and passively in companies undergoing change.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250116194583/en/

Engine Capital LP
212-321-0048
[email protected]

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