Swoop on aircraft parts

FTsE 100 engineering giant smiths Group is buying an aircrafts parts maker for £265m.

Us-based United Flexible makes products used in Airbus, United Technologies, and Pratt & Whitney engines and expects sales of £120m this year.

It is currently owned by private equity firm Arlington Capital Partners. smiths chief executive Andy Reynolds smith said: ‘United Flexible is a highquality growth business with complementary positions in industrial markets and on a number of growing aerospace platforms.’

smiths was in talks with Us-based ICU Medical last month about a £7bn merger of their healthcare business, but the deal fell through.