Firm Recognized at the 17th Annual International M&A Awards for Advising on the Sale of DRC Heat Transfer to Smiths Group plc
TORONTO, ON — June 16th, 2026 — Origin Merchant Partners, a leading independent investment bank focused on mergers and acquisitions, today announced it has been named the winner of the Cross-Border Deal of the Year ($100MM to $250MM) Award at The M&A Advisor’s 17th Annual International M&A Awards. The award recognizes Origin Merchant Partners’ role as exclusive financial advisor to DRC Heat Transfer in connection with its sale to Smiths Group plc, a global industrial engineering company listed on the London Stock Exchange.
The International M&A Awards honor the leading transactions, firms, and professionals whose accomplishments represent the highest levels of performance across global mergers and acquisitions. Winners are selected by an independent panel of industry experts from around the world representing a broad range of sectors and disciplines within the dealmaking community.
Founded in 1970 and headquartered in Melrose Park, Illinois, DRC Heat Transfer is a designer and manufacturer of engineered heat transfer and cooling solutions, primarily for standby power generators supporting data center infrastructure, as well as applications across the industrial, transit, and energy markets. The company serves blue-chip OEM customers who rely on mission-critical thermal management technology to maintain operational reliability.
Under the terms of the transaction, DRC joined the Flex-Tek division of Smiths Group, enhancing its product offering and expanding its presence in high-growth data center and industrial end markets. The deal underscores continued strategic consolidation and investor interest in engineered industrial technologies serving mission-critical infrastructure, a sector buoyed by surging global demand for reliable power generation and thermal management solutions, particularly in support of data center build-out.
The transaction involved significant cross-border complexity, spanning multiple jurisdictions and requiring the coordination of international legal, tax, labor and employment, regulatory, and financial workstreams. Origin Merchant Partners guided DRC Heat Transfer through every stage of the process—from strategic positioning and buyer identification to negotiation and closing—delivering a highly compelling outcome for the company and its stakeholders.
“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.”
— Brian P. Cahill, President, DRC Heat Transfer
ABOUT DRC HEAT TRANSFER
Founded in 1970 and based in Melrose Park, Illinois, DRC Heat Transfer is a leading designer and manufacturer of engineered heat transfer and cooling solutions. The company serves blue-chip OEM customers across power generation, industrial, transit, and energy end markets, with particular strength in standby power systems supporting data center infrastructure. For more information, please visit www.drcht.com.
ABOUT SMITHS GROUP PLC
For 175 years, Smiths Group has been a pioneer of progress, engineering solutions within markets aligned to attractive, long-term growth drivers — notably energy, industrials, construction, and aerospace. Listed on the London Stock Exchange and present in over 50 countries worldwide, Smiths focuses on solving critical global challenges including the ever-increasing demand for process and energy efficiency and decarbonization. For more information, please visit www.smiths.com.
ABOUT ORIGIN MERCHANT PARTNERS
Origin Merchant Partners is an independent investment bank specializing in cross-border mergers and acquisitions. The firm advises middle-market companies on complex transactions involving multiple jurisdictions, combining deep sector expertise with an integrated international network to deliver exceptional outcomes for clients. For more information, please visit www.originmerchant.com.
Deal Team: Nick Newlin, Katie Balson
