M&A Deal Summary

General Electric Acquires Edwards Systems Technology

On November 15, 2004, General Electric acquired safety/security company Edwards Systems Technology from SPX Technologies for 1.4B USD

Acquisition Highlights
  • This is General Electric’s 1st transaction in the Safety/Security sector.
  • This is General Electric’s 11th largest (disclosed) transaction.
  • This is General Electric’s 4th transaction in the United States.
  • This is General Electric’s 1st transaction in Connecticut.

M&A Deal Summary

Date 2004-11-15
Target Edwards Systems Technology
Sector Safety/Security
Buyer(s) General Electric
Sellers(s) SPX Technologies
Deal Type Divestiture
Deal Value 1.4B USD

Target

Edwards Systems Technology

Cheshire, Connecticut, United States
website
Edwards Systems Technology is a provider of fire detection systems within buildings.

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Buyer(S) 1

Buyer

General Electric

Boston, Massachusetts, United States

website


Category Company
Founded 1892
Sector Diversified
Employees205,000
Revenue 67.6B USD (2023)
DESCRIPTION

General Electric is a diversified technology and financial services corporation. Products and services range from aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing and industrial products. General Electric was founded in 1892 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 6 of 41
Sector (Safety/Security) 1 of 1
Type (Divestiture) 2 of 4
State (Connecticut) 1 of 1
Country (United States) 4 of 20
Year (2004) 2 of 3
Size (of disclosed) 11 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-08 Genpac

Hamilton, Bermuda

Genpact is a provider of business process outsourcing services. Genpact provides services through a global network of service centers. Genpact was founded in 1997 and is based in Hamilton, Bermuda.

Sell $800M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-24 Ionics

Burlington, Massachusetts, United States

Ionics, Inc. is a designer, installer of water and wastewater treatment systems for power utilities and other industrial customers.

Buy $1.1B

Seller(S) 1

SELLER

SPX Technologies

Charlotte, North Carolina, United States

website


Category Company
Founded 1912
Sector Machinery
Employees4,500
Revenue 1.5B USD (2022)
DESCRIPTION
Entrance to SPX's corporate headquarters in Charlotte, North Carolina.
Entrance to SPX's corporate headquarters in Charlotte, North Carolina.

SPX Technologies is a global supplier of highly specialized, engineered solutions for the energy and food/beverage industries. Key products include processing systems and components for the food and beverage industry, pumps, valves and filtration equipment used in oil and gas processing, power transformers used by utility companies, and cooling systems for power generation plants and HVAC applications. SPX Technologies was founded in 1912 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 8 of 23
Sector (Safety/Security) 1 of 1
Type (Divestiture) 8 of 23
State (Connecticut) 1 of 2
Country (United States) 7 of 17
Year (2004) 2 of 3
Size (of disclosed) 1 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-31 Inrange Technologies

Lumberton, New Jersey, United States

INRANGE Technologies designs, manufactures, markets and services networking and switching products for storage, data and telecommunications networks.

Sell $190M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-31 Dezurik

Sartell, Minnesota, United States

DeZurik is a designer and manufacturer of municipal water and wastewater flow control valves. Founded in 1925, DeZurik has been engaged in the development, manufacture, and sale of niche flow control valves. DeZurik’s engineers have continually developed a wide range of innovative products focused on providing solutions for customers in the water and wastewater treatment industries. Dezurik was founded in 1925 and is based in Sartell, Minnesota.

Sell $30M