Global Infrastructure SherpaSmiths Group acquires DRC Heat Transfer for £164 million
GBP164M
Deal Value
UK industrial engineering firm Smiths Group acquired Illinois-based DRC Heat Transfer, a manufacturer of power and cooling equipment for data centers, for £164 million ($219m). This acquisition will integrate DRC into Smiths' Flex-Tek business, expanding its presence in fast-growing end markets, particularly data center back-up power and other mission-critical applications, and broadening Flex-Tek's industrial heat business into higher-growth segments.
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UK industrial engineering firm Smiths Group is making a calculated move into the booming data center sector with its £164 million acquisition of Illinois-based DRC Heat Transfer. This deal specifically targets DRC's expertise in power and cooling equipment, a critical component for data center back-up power and other mission-critical applications. Integrating DRC into Smiths' Flex-Tek business will immediately broaden its industrial heat offerings into these higher-growth segments. It's a clear play to capture a slice of the rapidly expanding digital infrastructure market.
- UK's Smiths Group paid £164M ($219M) for DRC Heat Transfer.
- DRC specializes in power and cooling equipment for data centers.
- Acquisition expands Smiths' Flex-Tek business into mission-critical applications.
- Deal announced March 9, 2026.
Timeline
Announced
Mar 9, 2026
Signed
Closed
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