M&A Deal Summary

SPX Technologies Acquires Fenner Fluid Power

On March 31, 2000, SPX Technologies acquired machinery company Fenner Fluid Power from Fenner Group Holdings for 64M USD

Acquisition Highlights
  • This is SPX Technologies’ 1st transaction in the Machinery sector.
  • This is SPX Technologies’ 8th largest (disclosed) transaction.
  • This is SPX Technologies’ 3rd transaction in the United States.
  • This is SPX Technologies’ 1st transaction in Illinois.

M&A Deal Summary
Date 2000-03-31
Target Fenner Fluid Power
Sector Machinery
Buyer(s) SPX Technologies
Sellers(s) Fenner Group Holdings
Deal Type Divestiture
Deal Value 64M USD

Target

Fenner Fluid Power

Rockford,, Illinois, United States
website
Fenner Fluid Power specializing in medium-pressure hydraulic power system components.The company’s products include power units, cylinders, hand and power pumps, and pump motors assemblies.

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Buyer(S) 1

Buyer

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 3 of 24
Sector (Machinery) 1 of 7
Type (Divestiture) 2 of 6
State (Illinois) 1 of 2
Country (United States) 3 of 13
Year (2000) 1 of 2
Size (of disclosed) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-08-25 Harris Corp - TV Antenna Business

United States

Harris Corp - TV Antenna Business is a largest manufacturer of TV and FM broadcast antennas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-09-21 Copes-Vulcan

Lake City,, Pennsylvania, United States

Copes-Vulcan, Inc. is a maker of control valves and turbine bypass systems.

Buy $35M

Seller(S) 1

SELLER

Fenner Group Holdings

Hessle, United Kingdom

website

Category Company
Founded 1861
Sector Machinery
Revenue 729M GBP (2014)
DESCRIPTION

Fenner is a reinforced polymer technology company focused on providing conveyor belt solutions and reinforced polymer products for the mining and general industrial markets.

DEAL STATS #
Overall 1 of 3
Sector (Machinery) 1 of 1
Type (Divestiture) 1 of 3
State (Illinois) 1 of 1
Country (United States) 1 of 3
Year (2000) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-11 Fenner - Lightweight Conveyor Belt Operations

Charlotte, North Carolina, United States

Fenner - Lightweight Conveyor Belt Operations manufactur a range of lightweight PVC conveyor belts used in a wide variety of industrial applications.

Sell -
Mergr

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