Origin Merchant Partners (“Origin”) is pleased to announce that it served as the exclusive financial advisor to DRC Heat Transfer (“DRC”), a leading designer and manufacturer of custom heat transfer solutions for mission-critical power generation applications, on its announced sale to Smiths Group plc (“Smiths”), a global industrial engineering company listed on the London Stock Exchange.
DRC will join the Flex-Tek division of Smiths, enhancing its product offering and expanding its presence in high-growth data center and industrial end markets.
The transaction underscores continued market consolidation and interest from both strategic and financial investors for engineered industrial technologies serving mission-critical infrastructure markets. Demand for reliable power generation and thermal management solutions, particularly in support of data center infrastructure, continues to drive strategic M&A activity across the sector.
“Origin’s strategic insight, disciplined execution and unwavering commitment were instrumental in delivering an exceptional outcome for DRC. Their partnership throughout the process made a meaningful difference,” said Brian P. Cahill, President of DRC.
Founded in 1970, DRC is a designer and manufacturer of engineered heat transfer and cooling solutions, primarily for standby power generators used in data centers, as well as for other applications in the industrial, transit and energy markets. The Company is based in Melrose Park, Illinois.
The transaction is subject to customary approvals and is expected to be completed near the end of the first quarter.
About DRC:
Founded in 1970, DRC is a leading designer and manufacturer of engineered heat transfer and cooling solutions. The Company serves blue-chip OEM’s customers across power generation, industrial, transit and energy end markets, with particular strength in standby power systems supporting data center infrastructure. For additional information, please visit www.drcht.com.
About Smiths:
For 175 years, Smiths Group has been a pioneer of progress, engineering a better future. It’s strategy is to be focused, efficient and value creating industrial engineering company operating within markets aligned to attractive, long-term growth drivers, notably energy, industrials, construction and aerospace. Smiths focuses on solving the toughest problems for its customers, helping address critical global needs and such as the ever-increasing demand for process and energy efficiency, and decarbonization. Listed on the London Stock Exchange, Smiths is present in over 50 countries worldwide. For more, please visit www.smiths.com.
Press release: Smiths acquires DRC Heat Transfer
Deal team: Nick Newlin, Katie Balson
