M&A Deal Summary

Atlas Holdings and Mueller Industries Acquire Tecumseh Products

On August 5, 2015, private equity firm Atlas Holdings and Mueller Industries acquired manufacturer Tecumseh Products for 123M USD

Acquisition Highlights
  • This is Atlas Holdings’ 2nd and Mueller Industries’ 1st transaction in the Manufacturing sector.
  • This is Atlas Holdings’ and Mueller Industries’ 4th largest (disclosed) transaction.
  • This is Atlas Holdings’ 17th and Mueller Industries’ 4th transaction in the United States.
  • This is Atlas Holdings’ 3rd and Mueller Industries’ 2nd transaction in Michigan.

M&A Deal Summary

Date 2015-08-05
Target Tecumseh Products
Sector Manufacturing
Buyer(s) Atlas Holdings
Mueller Industries
Deal Type Going Private
Deal Value 123M USD
Advisor(s) Citigroup Investment Banking (Financial)
Honigman (Legal)

Target

Tecumseh Products

Ann Arbor, Michigan, United States
website
Tecumseh Products Co. is a global manufacturer of hermetically sealed compressors for residential and specialty air conditioning, household refrigerators and freezers and commercial refrigeration applications.

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Buyer(S) 2

Buyer

Atlas Holdings

Greenwich, Connecticut, United States

website


Category Private Equity Firm
Founded 2002
Size Large
Type Sector Agnostic
DESCRIPTION

Atlas Holdings is a private equity and investment holding firm focused on acquiring controlling interests in businesses operating in traditional, basic industries. Areas of interest include automotive, business services, industrial services, building materials, pulp and paper, distribution, energy, packaging, specialty steel and wood products. The Firm will participate in bankruptcy investments, highly structured equity and debt investments, leveraged ESOP acquisitions, out-of-court restructurings, and roll-ups. Atlas typically partners with private and institutional investors and structures one investment at a time. Atlas Holdings was established in 2002 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 20 of 35
Sector (Manufacturing) 2 of 3
Type (Going Private) 1 of 2
State (Michigan) 3 of 5
Country (United States) 17 of 29
Year (2015) 4 of 4
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-02 Forest Resources

Hartford City, Illinois, United States

Forest Resources LLC is a holding company engaged in manufacturing industrial packaging products, including recycled corrugated medium, kraft, crepe and specialty packaging papers as well as corrugated boxes.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-16 Capital Equipment Resources

Fairburn, Georgia, United States

Capital Equipment Resources LLC (dba Pangborn Group) is a designer, manufacturer and services shot blast and surface preparation machines and related products for a range of industries, including foundry and forge, metalworking and descaling, automotive and heavy truck, ship and rail, defense, and energy.

Sell -
Buyer

Mueller Industries

Memphis, Tennessee, United States

website


Category Company
Founded 1917
Sector Metals/Mining
Employees5,337
Revenue 4.0B USD (2022)
DESCRIPTION

Mueller Industries is a manufacturer of copper tube and fittings; brass and copper alloy rod, bar and shapes; aluminum and brass forgings; aluminum and copper impact extrusions; plastic fittings and valves; refrigeration valves and fittings; and fabricated tubular products. Mueller Industries was founded in 1917 and is based in Memphis, Tennessee.


DEAL STATS #
Overall 4 of 12
Sector (Manufacturing) 1 of 5
Type (Going Private) 1 of 1
State (Michigan) 2 of 3
Country (United States) 4 of 8
Year (2015) 1 of 1
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-23 Westermeyer Industries

Bluffs, Illinois, United States

Westermeyer Industries, Inc. designs, manufactures, and distributes commercial components and accessories for the air conditioning and refrigeration markets.

Buy $12M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-19 Jungwoo Metal Ind.

Yangju-Si, South Korea

Jungwoo Metal Ind. Co., Ltd. is a manufacturer of copper-based pipe joining products. Jungwoo Metal Ind. Co., Ltd. was founded in 1986 and is based in Yangju-Si, South Korea.

Buy -