Mergers and Acquisitions
Autodesk Closes On PI-VR Acquisition
January 8, 2013 12:17 pm | News | CommentsAutodesk has completed its buyout of privately held German software company PI-VR, a deal designed to broaden its work for the automobile industry. Financial terms were not disclosed. Autodesk Inc. develops computer-aided manufacturing software used by designers, engineers in industries such as manufacturing, architecture, building and construction.
R-O-M Corporation Acquires Fire Research Corporation
January 8, 2013 10:47 am | News | Comments"The reputation of the FRC brand is unparalleled," Jeff Hupke, CEO of R-O-M, said. "With this acquisition, R-O-M becomes the largest supplier of emergency scene lighting, pressure governors and flow meters. When combined with R-O-M's strengths in roll-up doors and safety grating, we continue proving true to our mission to improve firefighter safety and productivity."
Daily Equipment Company Sells Its Business To Mitsubishi Caterpillar Forklift America Inc.
January 7, 2013 2:25 pm | News | CommentsMitsubishi Caterpillar Forklift America Inc. (MCFA), a leading manufacturer of forklifts under the Cat® lift trucks, Mitsubishi forklift trucks and Jungheinrich® brands, and Daily Equipment Company (DEC) jointly announced today that DEC has been sold to MCFA in a seamless succession planning step for DEC’s principle shareholder, Emmerson Daily.
Oshkosh Ends 'Poison Pill' After Icahn Drops Bid
January 7, 2013 11:25 am | News | CommentsA month after activist investor Carl Icahn gave up his bid for Oshkosh, the truck maker is ending a shareholder rights plan early. The "poison pill," announced this past October to ward off hostile takeover attempts, was set to end in October 2013. Instead, it will expire Monday after the close of trading.
Report: Hostess In Talks To Sell Bread Brands
January 7, 2013 7:59 am | News | CommentsThe makers of Thomas' English muffins and Tastykake snacks are emerging as two of the bidders for Wonder Bread and other Hostess bread brands as the company tries to sell off its assets under bankruptcy-court oversight, a newspaper reported Saturday.
Saint-Gobain Performance Plastics Acquires American Fluoroseal Corporation
January 4, 2013 3:50 pm | News | CommentsSaint-Gobain Performance Plastics has completed the acquisition of American Fluoroseal Corporation (AFC), a Maryland based manufacturer of fluoropolymer bags for medical use and sterile sampling systems for pharmaceutical manufacturing processes. The company operates from a single location in Gaithersburg (Maryland, United States) where both engineering and manufacturing are located.
Hypertherm Acquires AccuStream Waterjet Products Company
January 3, 2013 3:54 pm | News | CommentsHypertherm, a U.S. based manufacturer of advanced cutting systems, today announced the acquisition of AccuStream, a Minnesota based manufacturer of waterjet cutting products. The acquisition will advance Hypertherm’s strategy of providing customers with the optimum cutting technology—whether plasma, laser, or waterjet—for their particular cutting application.
Hormel Foods Buying Skippy For About $700M
January 3, 2013 8:15 am | by Candice Choi and Michelle Chapman, AP Business Writers | News | CommentsHormel Foods is buying the Skippy peanut butter product line from Unilever for approximately $700 million as it looks to strengthen its business overseas and branch out beyond its meat business that includes Spam. Skippy, which debuted in 1932, has 11 varieties of peanut butter products.
Middleby To Buy Viking Range For $380M
January 2, 2013 8:19 am | News | CommentsFood service equipment maker Middleby Corp. says it will buy Mississippi-based oven and kitchen appliance maker Viking Range Corp. for $380 million. Viking Range is based in Greenwood, Miss., and makes products for use in residential cooking. Middleby said Viking Range has $200 million in annual sales.
Trelleborg Wheel Systems Acquires Maine Industrial Tire
December 21, 2012 9:23 am | News | CommentsTrelleborg Wheel Systems Industrial Tires has today signed an agreement to acquire Maine Industrial Tire, the leading U.S.-based producer of large solid and semi solid tires. The acquisition places Trelleborg into the market for large solid off-the-road (OTR) tires predominantly used within the construction, underground mining and waste management segments.
Mohawk Industries To Buy Marazzi For $1.5B
December 21, 2012 8:26 am | News | CommentsMohawk Industries Inc., which makes residential and commercial flooring, is buying Marazzi Group for about $1.5 billion to expand its ceramic tile business. Mohawk says Marazzi, which sells tile in more than 100 countries, posted revenue last year of about $1.16 billion.
GE Buying Avio Aviation Unit For $4.3B
December 21, 2012 8:20 am | News | CommentsIndustrial conglomerate General Electric plans to buy the aviation business of Italian manufacturer Avio for $4.3 billion to grow its jet propulsion business and strengthen its supply chain. The Fairfield, Conn., company said Friday that it wants to build its supply chain as it ramps up engine production.
Oracle Buying Eloqua For About $811M
December 20, 2012 10:19 am | News | CommentsBusiness-software maker Oracle is adding to its cloud-computing capabilities with an $810.8 million purchase of software maker Eloqua. Oracle said Thursday that buying Eloqua will bolster its "cloud" technology for helping companies make decisions on their marketing, sales and customer support.
Google To Sell Part Of Motorola For $2.35B
December 19, 2012 8:55 pm | by Michael Liedtke, AP Business Writer | News | CommentsGoogle is selling Motorola Mobility's TV set-top business for $2.35 billion, lightening the load that the Internet search leader took on earlier this year when it completed the biggest acquisition in its history. The cash-and-stock deal announced late Wednesday will turn over Motorola's set-top division to Arris Group Inc.
Deublin Company Acquires Barco Seals
December 19, 2012 4:00 pm | News | CommentsEffective December 1, 2012, Deublin Company has acquired Barco Seals of Cary, IL. Both companies manufacture fluid power components used in a variety of equipment and process industries. “The Barco acquisition brings together two great brands with similar applications, along with many new products and markets,” explains Rob O’Brien, VP Sales & Marketing at Deublin Company.
Hillshire Brands Selling Australian Subsidiary
December 19, 2012 1:16 pm | News | CommentsThe Hillshire Brands Co. is selling an Australian subsidiary to McCain Foods Ltd. for approximately $85 million. The Chicago-based meat company, which was once part of the Sara Lee Corp., said late Tuesday that the deal will allow it to focus on its North American retail and food service business.
Total Fleet Solutions And The Miner Corporation Join Forces
December 19, 2012 12:13 pm | News | CommentsYesterday, Total Fleet Solutions, a portfolio company of CI Capital Partners, and The Miner Corporation announced that they have merged to form a leading provider of facilities services and asset management solutions for retail, distribution, manufacturing, health care and hospitality companies.
Workers United Members At HMX Celebrate Victory In Acquisition Deal With Authentic Brands Group
December 19, 2012 9:14 am | by Workers United | News | CommentsThe terms of the acquisition not only promise to save some 1100 U.S. jobs by maintaining operations of both brands at manufacturing plants in Rochester, NY and Des Plaines, IL, but also will ensure that the company is better capitalized and positioned to access global retail markets. The deal also will give workers 10 percent of company profits.
German Prosecutors Charge Ex-Porsche Chiefs
December 19, 2012 7:58 am | News | CommentsGerman prosecutors have charged two former Porsche executives with market manipulation in connection with the sports car company's failed takeover of Volkwagen AG. Prosecutors say former chief executive Wendelin Wiedeking and ex-chief financial officer Holger Haerter made misleading statements about the company's intentions in 2008.
Plex Systems Raises $30 Million Strategic Investment From Accel Partners
December 18, 2012 3:14 pm | News | CommentsPlex Systems, the leader in cloud-based ERP solutions for manufacturers, announced today that global venture capital and growth equity firm Accel Partners has made a $30 million strategic investment in the company. As part of the financing, Accel Partners will gain a seat on its board of directors, joining Francisco Partners, which acquired Plex Systems earlier this year.
Oklahoma Aerospace Firm Acquired By Tulsa-Based Aerospace Executives
December 18, 2012 2:47 pm | News | CommentsClearRidge Capital, an Oklahoma Investment Banking firm, announces the acquisition of Oklahoma aerospace firm First Wave MRO by seasoned Tulsa aerospace executives, Tray Siegfried and Jon Werthen. First Wave serves the world’s largest aircraft fleets, air carriers, and operators.
American Railcar Offers $543M For Greenbrier
December 18, 2012 10:59 am | News | CommentsCarl Icahn is again trying to bring together railcar makers American Railcar and Greenbrier. American Railcar, which he controls, has offered to buy Greenbrier for $542.9 million. Icahn bought a nearly 10 percent share in Greenbrier last month, saying then that its shares were undervalued.
ConocoPhillips Selling Algerian Unit For $1.75B
December 18, 2012 9:23 am | News | CommentsConocoPhillips, as part of its massive downsizing effort, has agreed to sell its business in Algeria to Indonesia's state-owned oil and gas company Pertamina for $1.75 billion. ConocoPhillips has sold more than $20 billion in refineries, pipelines and other assets since 2010 to remake itself as an independent oil and gas producer.
Mahindra Plans To Buy Navistar Stake In Ventures
December 18, 2012 8:16 am | News | CommentsThe Indian truck maker Mahindra & Mahindra Ltd. plans to buy Navistar's stake in two joint ventures for approximately $33 million as the U.S. company refocuses its capital and sheds underperforming divisions. The deal includes Navistar Group's stake in Mahindra Navistar Automotives Ltd. and Mahindra Navistar Engines Pvt Ltd.
Mayville Engineering Company, Inc. To Purchase Center Manufacturing, Inc.
December 17, 2012 2:16 pm | News | CommentsMayville Engineering Company, Inc. (MEC) today announced it has acquired Center Manufacturing, Inc. (Center), a Michigan-based manufacturer of metal products for the commercial vehicle, powersports, agriculture, construction, automotive and military industries, through a private stock purchase.
