M&A Deal Summary

Cooper Industries Acquires Cannon Technologies

On August 15, 2006, Cooper Industries acquired test/measurement equipment company Cannon Technologies from GFI Energy Ventures and Oaktree Capital Management

Acquisition Highlights
  • This is Cooper Industries’ 1st transaction in the Test/Measurement Equipment sector.
  • This is Cooper Industries’ 3rd transaction in the United States.
  • This is Cooper Industries’ 1st transaction in Minnesota.

M&A Deal Summary
Date 2006-08-15
Target Cannon Technologies
Sector Test/Measurement Equipment
Buyer(s) Cooper Industries
Sellers(s) GFI Energy Ventures
Oaktree Capital Management
Deal Type Add-on Acquisition

Target

Cannon Technologies

Minneapolis, Minnesota, United States
Cannon Technologies, Inc. is a developer and marketer of measurement and control products aimed at helping utilities improve the utilization, reliability and cost effectiveness of their transmission and distribution systems.

Search 197,704 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Cooper Industries

Maynooth, Ireland
Category Company
Founded 1833
Sector Electrical Equipment
Employees26,000
Revenue 5.4B USD (2011)
DESCRIPTION

Cooper is a diversified global manufacturer of electrical components and tools. Cooper has seven operating divisions with leading positions and world-class products and brands including Bussmann electrical and electronic fuses; Crouse-Hinds and CEAG explosion-proof electrical equipment; Halo and Metalux lighting fixtures; and Kyle and McGraw-Edison power systems products. With this broad range of products, Cooper is positioned for several long term growth trends including the global infrastructure build out, the need to improve the reliability and productivity of the electric grid, the demand for higher energy-efficient products and the need for improved electrical safety.

DEAL STATS #
Overall 3 of 8
Sector (Test/Measurement Equipment) 1 of 1
Type (Add-on Acquisition) 3 of 7
State (Minnesota) 1 of 1
Country (United States) 3 of 6
Year (2006) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-02-28 Cooper Wheelock

Long Branch, New Jersey, United States

Cooper Wheelock, Inc. is a designer and manufacturer of fire safety and emergency incident communications systems and devices.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-04 WPI Interconnect Products

Salem, New Jersey, United States

WPI Interconnect Products, Inc. is a manufacturer of custom connectors and cable assemblies.

Buy -

Seller(S) 2

SELLER

GFI Energy Ventures

Los Angeles, California, United States
Category Private Equity Firm
Founded 1995
PE ASSETS 1.8B USD
Size Large
Type Sector Focused
DESCRIPTION

GFI Energy Ventures is a specialist private investment firm focused on businesses surrounding the energy industry. GFI generally looks to acquire a controlling or significant interest in private companies or business units of public companies. Energy sub-sectors of interest include power quality/power conversion; energy measurement and control; transmission and distribution optimization; and information systems/transaction support. GFI seeks opportunities with at least $50 million in revenue and valued up to $500 million. The Firm will not invest in start-ups, turnarounds, unproven technology, or investments requiring less than $30 million of equity capital. GFI Energy Ventures was formed in 1995 and is based in Los Angeles, California.

DEAL STATS #
Overall 11 of 27
Sector (Test/Measurement Equipment) 1 of 1
Type (Add-on Acquisition) 8 of 17
State (Minnesota) 1 of 1
Country (United States) 9 of 25
Year (2006) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-12 Trans-Elect Development

Reston, Vermont, United States

Trans-Elect Development Co. LLC is an independent transmission company, focused on the acquisition and operation of transmission systems, the development and construction of new transmission lines, and the upgrade of existing transmission systems.

Sell $866M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-18 Longhorn Pipeline Holdings

Houston, Texas, United States

Longhorn Pipeline Holdings LLC is an owns a 764-mile pipeline designed to transport refined petroleum products from the U.S. Gulf Coast refineries to terminals in Odessa and El Paso, Texas.

Sell -
SELLER

Oaktree Capital Management

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1995
Size Mega
Type Sector Agnostic
DESCRIPTION

Oaktree Capital Management LLP is a global alternative investment firm with a variety of investment strategies spanning corporate debt, convertible securities, distressed debt, control investing, real estate, and public investing. The Firm's control investing group is spread across several disciplines, including Global Principal, European Principal, Power, and Infrastructure. Oaktree was formed in 1995 and is based in Los Angeles.

DEAL STATS #
Overall 15 of 75
Sector (Test/Measurement Equipment) 1 of 1
Type (Add-on Acquisition) 9 of 30
State (Minnesota) 1 of 1
Country (United States) 13 of 53
Year (2006) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-21 TruckPro

Cordova, Tennessee, United States

TruckPro is an independent distributor of heavy-duty aftermarket truck parts and accessories in the U.S. TruckPro distributes a full range of products that cover maintenance and repair events for substantially all major OEMs of heavy-duty vehicles. TruckPro sells its products to over 35,000 customers in numerous end markets, including small, regional and national trucking companies; private fleets; waste services companies; construction companies; municipalities and independent repair shops. TruckPro, Inc. was founded in 1958 and is based in Memphis, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-18 Longhorn Pipeline Holdings

Houston, Texas, United States

Longhorn Pipeline Holdings LLC is an owns a 764-mile pipeline designed to transport refined petroleum products from the U.S. Gulf Coast refineries to terminals in Odessa and El Paso, Texas.

Sell -
Mergr

Product

Company

Legal