About the engagement
KPMG Corporate Finance LLC and KPMG LLP United Kingdom (“KPMG Corporate Finance”) acted as the exclusive financial advisors to Smiths Interconnect, a division of London-based Smiths Group plc, on the divestiture of its Microwave Telecoms business (“SMT”), which is inclusive of the well-recognized Kaelus, PolyPhaser, Transtector Systems and RadioWaves brands, to Infinite Electronics (“Infinite”) for an enterprise value of $110 million.
SMT manufactures components, sub-assemblies, antennas and test system solutions that are primarily used to support the build-out and upgrade of wireless telecommunications infrastructure. SMT also provides solutions within cell sites and in-building networks that ensure optimal network performance and protects high-value infrastructure from lightning strikes and power surges. SMT has a diverse, blue-chip customer base with more than 3,500 customers in over 70 countries across 5 market segments.
In addition to an improved telecom market presence for Infinite, this acquisition will also provide the SMT companies a unique opportunity to more quickly serve its global customer base with a broader product offering through the adoption of Infinite’s urgent availability service model. Moreover, SMT’s product lines are perfectly aligned to also support new markets such as defense, medical, and transportation, industries already widely served by Infinite portfolio companies.
“The KPMG Corporate Finance team brought a deep understanding of our industry and markets to the project, managed a rigorous process, and leveraged its broad buyer relationships. Each of these were critical in achieving our very successful outcome. Our leadership team is excited about the next phase of growth with Infinite and I and couldn’t be happier with KPMG’s efforts and the results,” said Brian DuPell, President of Smiths Microwave Telecoms.
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The global Corporate Finance practices of KPMG International’s network of independent member firms was ranked #1 as the top M&A middle-market adviser globally by Thomson Reuters SDC based on number of completed transactions, and has been named the #1 Global Mid-Market firm and Global Private Equity Mid-Market firm, by Bloomberg M&A Advisory League Tables, for 2016.
KPMG Corporate Finance LLC
KPMG Corporate Finance LLC was recently named Transaction Advisory Firm of the Year by The Global M&A Network, and previously named Investment Bank of the Year by The M&A Advisor. KPMG Corporate Finance LLC provides a broad range of investment banking and advisory services to its domestic and international clients. Our professionals have the experience and depth of knowledge to advise clients on global mergers and acquisitions, sales and divestitures, buyouts, financings, debt restructurings, equity recapitalizations, infrastructure project finance, capital advisory, portfolio solutions, fairness opinions, and other advisory needs.