CONTACT
6309 Monarch Park Place, Suite 203
Niwot, CO 80503, USA
Phone (303) 443-5060
Toll free (888) 742-5060
Motion Industries Inc., Birmingham, AL, ($2.5 billion in annual sales) has acquired Voorhies Supply Co. LLC, a supplier of industrial, power transmission, PVF and fabrication supplies throughout southern Louisiana. Voorhies Supply, privately held since 1949, does business as Voorhies Supply Company and Standard Supply and Hardware, and serves oilfield drilling and services, industrial and petrochemical, manufacturing and marine segments through eight locations. Motion Industries is a wholly owned subsidiary of Genuine Parts Company.
Esmark Inc., Chicago Heights, IL, has acquired Homewood, IL-based North American Steel LLC, a steel service center with annual revenues of more than $30 million, in a cash and stock transaction. According to Esmark, the acquisition pushes the company's annual revenues past $600 million. North American Steel serves the automotive, commercial/residential construction market, container and appliance industries with a range of cold-roll, coated, and made-to-order steel products. Its specialty is painted steel products for the metal construction industry.
Eaton Corp., Cleveland, OH, has completed its acquisition of PerkinElmer Inc.'s aerospace division, which in 2004 had $220 million in revenues, or 13% of PerkinElmer's total sales. PerkinElmer's aerospace division is a provider of sealing and pneumatic systems for large commercial aircraft and regional jets. It also produces other products for aircraft engines, fuel systems, cabin air and de-icing systems, and hydraulic systems, as well as industrial equipment. Eaton Corp. had sales of $9.8 billion in 2004.
DXP Enterprises Inc., Houston, TX, has purchased R.A. Mueller, a $21-million fluid handling equipment distributor based in Cincinnati, OH, for $7.3 million in cash and promissory notes. The purchase price represents about a 6X EBITDA of $1.7 million. DXP will also assume about $1.7 million in debt. "DXP has not previously conducted operations in the geographic area served by R.A. Mueller," DXP President and CEO David Little said. Founded in 1952, R.A. Mueller serves Ohio, Indiana, Kentucky and West Virginia. DXP provides pumping solutions, integrated supply and MROP (maintenance, repair, operating and production) services in pumps, bearings, power transmission, seals, hose, safety, fluid power, electrical and industrial supplies.
Danaher Corp., Washington, D.C., said its subsidiary Fluke Electronics Corp. has agreed to buy Visual Networks Inc. for $75 million in cash. Visual Networks, Rockville, MD, provides network test and application performance management solutions. Danaher Corp. is a manufacturer of professional instrumentation, industrial technologies and tools and components.
Parker Hannifin Corp., Cleveland, OH, plans to finish its acquisition of U.K.-based Domnick Hunter Group plc in December by buying its remaining untendered shares. The total purchase comes to about $450 million, or 700 pence per share. Domnick Hunter had 2004 revenues of $280 million. It specializes in the design and manufacture of filtration, separation and purification products and technologies. The deal ends a months-long bidding war between Parker Hannifin and Eaton Corp., Cleveland, OH, for the industrial filtration company. Parker agreed to pay 700 pence per share in September; Eaton had offered 690 pence but dropped out of the bidding war in October.
Metals service center O'Neal Steel Inc., Birmingham, AL, will buy TW Metals Inc., Exton, PA. O'Neal, which is family-owned, will operate TW Metals as a stand-alone company led by current management, including President Jack Elrod. TW Metals is a global service center focused on specialty metals long products, including bar, rod, tube, pipe and special forms primarily from high grade aluminum and stainless steel, as well as carbon, titanium, nickel and other high performance alloy metals. Before the sale to O'Neal, TW Metals was a
CONTACT
6309 Monarch Park Place, Suite 203
Niwot, CO 80503, USA
Phone (303) 443-5060
Toll free (888) 742-5060
Copyright ©2019. All Rights Reserved