Cummins - M&A Summary and Business Overview

MachineryCompany

Cummins M&A Summary

Cummins has acquired 9 companies, including 4 in the last 5 years. A total of 1 acquisition came from private equity firms. It has also divested 2 assets.

Cummins’ largest acquisition to date was in 2022, when it acquired Meritor for $3.7B. Cummins has acquired in 6 different US states, and 4 countries. The Company’s most targeted sectors include automotive (67%) and building materials (12%).

Cummins Business Overview

Where is Cummins headquartered?

Cummins is headquartered in Columbus, Indiana.

What is Cummins’ revenue?

Cummins disclosed revenue of 28,074M USD for 2022 and 24,021M USD for 2021.

How many employees does Cummins have?

Cummins has 73,600 employees.

What sector is Cummins in?

Cummins is a machinery company.

When was Cummins founded?

Cummins was founded in 1919.

M&A Summary

  • M&A Total Activity11
    • M&A Buy Activity9
    • M&A Sell Activity2
  • Total Sectors Invested 4
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 9
  • M&A Advisors 4

Cummins

Cummins, Inc.

500 Jackson Street Box 3005,
Columbus, Indiana 47202
United States,
(812) 377-5000
www.cummins.com

Cummins designs, manufactures, distributes and services engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Cummins was incorporated in 1919 and is based in Columbus, Indiana.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.6/yr) # 6 - 1 2 - - 9
vol $290M $3.7B $4.0B
Sell (0.0/yr) # 2 - - - - - 2
  11

Most Recent M&A

Company Date Value Type
Meritor, Inc. 2022-02-22 3.7B USD Add-on Acquisition
Troy, Michigan · www.meritor.com
Jacobs Vehicle Systems, Inc. 2022-02-09 - Divestiture
Bloomfield, Connecticut · www.jacobsvehiclesystems.com
Momentum Fuel Technologies 2021-06-29 - Stake Purchase
Roanoke, Texas · www.momentumfueltech.com
Hydrogenics Corp. 2019-06-28 290M USD Divestiture
Mississauga, Ontario · www.hydrogenics.com
Efficient Drivetrains, Inc. 2018-07-02 - Add-on Acquisition
Milpitas, California · www.efficientdrivetrains.com
Brammo, Inc. 2017-10-16 - Divestiture
Talent, Oregon · www.brammo.com
ICDC, Ltd. 2017-03-22 - Divestiture
, Bermuda
SCR Doser Assets 2012-07-18 - Divestiture
Marktheidenfeld, Germany
Kuss Filtration, Inc. 2011-11-02 - Divestiture
Bloomer, Washington · www.kussfiltration.com
Cummins Diesel Sales & Service 2001-01-01 - Add-on Acquisition
Freestate, South Africa
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Meritor, Inc. 2022-02-22 Siemens - Commercial Vehicles Electric Propulsion Business 2022-05-20 1
Troy, Michigan · www.meritor.com , Germany
Cummins India Ltd.    - Cummins Power Rental 2008-11-24 1
Pune, India · www.cummins.com , India

M&A by Sector

Sector Buy # Value Sell # Value
Automotive 6 (67%) 3.7B (93%) - -
Machinery 1 (11%) - 1 (50%) -
Building Materials 1 (11%) 290M (7%) - -
Distribution 1 (11%) - - -
Insurance - - 1 (50%) -
Total 9 $4.0B 2 -

By Geo

State/Country Buy Value Sell Value
United States 6 3.7B 1 -
  Washington 1 - 1 -
  Texas 1 - - -
  Oregon 1 - - -
  Michigan 1 3.7B - -
  Connecticut 1 - - -
  California 1 - - -
Bermuda - - 1 -
Canada 1 290M - -
  Ontario 1 290M - -
Germany 1 - - -
South Africa 1 - - -
Domestic 6 (67%) 3.7B (93%) 1 (50%) -
Cross-border 3 (33%) 290M (7%) 1 (50%) -
Total 9 $4.0B 2 -

Top M&A Advisors

Financial Deals
Morgan Stanley
 2
Legal Deals
Barnes & Thornburg
 1
Gowling WLG
 1
Mayer Brown
 1

Deal Values

buy # Total
> $1B 1 $3.7B
$100M to $1B 1 $290M
TOTAL $4.0B
Largest Meritor, Inc.
$3.7B (2022-02-22)

M&A Connections

Deals
Acquired from
Investor(s)
11%
1 (11%)
Strategic(s)
56%
5 (56%)
Divested to
Investor(s)
50%
1 (50%)
Strategic(s)
50%
1 (50%)

Company Summary

SECTOR

Machinery

Revenue

28,074   17% 2022
24,021   22% 2021
19,811   16% 2020
23,571   1% 2019
23,771   17% 2018
20,428   17% 2017
17,509   9% 2016
19,110   1% 2015
19,221   12% 2014
17,301   1% 2013
17,334   2012
(millions of USD) Show More Show Less

Employees

73,600

Established

1919

Public

NYSE: CMI

Former Name

Cummins Engine Company

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