Going Private • Test/Measurement Equipment

Melrose Industries Acquires Elster Group SE

On June 29, 2012, Melrose Industries acquired test/measurement equipment company Elster Group SE for 2.3B USD

Acquisition Context
  • This is Melrose Industries’ 1st transaction in the Test/Measurement Equipment sector.
  • This is Melrose Industries’ 3rd largest (disclosed) transaction.
  • This is Melrose Industries’ 1st transaction in Germany.
Investment Fate
  • Elster Group SE was divested to a consortium of strategic buyers in 2015 for 5.1B USD.

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M&A Deal Summary

Date June 29, 2012
Target Elster Group SE
Sector Test/Measurement Equipment
Buyer(s) Melrose Industries
Deal Type Going Private
Deal Value 2.3B USD

Target Company

Elster Group SE

Essen, Germany
Elster Group SE is a manufacturer and supplier of integrated utility meters. The meters manufactured by Elster are used to measure energy, gas and water consumption of residential customers and industrial consumers.
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Buyer Overview 1

Buyer

Melrose Industries

London, United Kingdom

Category Company
Founded 2003
Sector Machinery
Employees12,291
Revenue 3.5B GBP (2024)
DESCRIPTION

Melrose Industries is a buyer good manufacturing businesses with strong fundamentals whose performance can be improved. Melrose finances its acquisitions using a low level of leverage, improves the businesses by a mixture of investment and changed management focus, sells them and returns the proceeds to shareholders. Melrose Industries was founded in 2003 and is based in London, United Kingdom.


Deal Context for Buyer #
Overall 5 of 8
Sector: Test/Measurement Equipment 1 of 1
Type: Going Private 1 of 1
Country: Germany 1 of 1
Year: 2012 1 of 1
Size (of disclosed) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-01 Mckechnie Plastic Components

Easley, South Carolina, United States

MPC is a injection moulders in the UK, operating 110 machines from 3 facilities, with a combined manufacturing space of 30,000 sqm. With revenues of over £70m, MPC serves the Power Tool, the Food and Drink Packaging and Automotive sectors

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-20 Marelli Motori

Arzignano, Italy

Marelli Motori SpA is a manufacturer of generators and electric motors. With five overseas offices in Germany, UK, Malaysia, USA and South Africa it serves worldwide markets for power generation, marine, oil & gas and industrial manufacturing.

Sell €212M