M&A Deal Summary

AO Smith Acquires General Electric - Compressor Motor Business

On July 2, 1998, AO Smith acquired electrical equipment company General Electric - Compressor Motor Business from General Electric for 120M USD

Acquisition Highlights
  • This is AO Smith’s 1st transaction in the Electrical Equipment sector.
  • This is AO Smith’s 6th largest (disclosed) transaction.
  • This is AO Smith’s 1st transaction in the United States.
  • This is AO Smith’s 1st transaction in Kentucky.

M&A Deal Summary
Date 1998-07-02
Target General Electric - Compressor Motor Business
Sector Electrical Equipment
Buyer(s) AO Smith
Sellers(s) General Electric
Deal Type Divestiture
Deal Value 120M USD

Target

General Electric - Compressor Motor Business

Scottsville, Kentucky, United States
General Electric - Compressor Motor Business is a manufactures 1/2 through six horsepower motors and serves a number of major U.S. compressor manufacturers.

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Buyer(S) 1

Buyer

AO Smith

Milwaukee, Wisconsin, United States
Category Company
Founded 1874
Sector Manufacturing
Employees12,000
Revenue 3.9B USD (2023)
DESCRIPTION
Entrance to AO Smith's corporate headquarters in Milwaukee, Wisconsin.
Entrance to AO Smith's corporate headquarters in Milwaukee, Wisconsin.

AO Smith is a manufacturer of water heaters and boilers, serving a diverse mix of residential and commercial end markets. The Company's water heater segment offers electric, natural gas and liquid propane models as well as solar tanks and gas tankless units for today’s energy efficient homes. AO Smith's commercial boilers are used primarily in space heating applications including hospitals, schools, hotels and other large commercial buildings. AO Smith was incorporated in 1874 and is based in Milwaukee, Wisconsin.

DEAL STATS #
Overall 1 of 14
Sector (Electrical Equipment) 1 of 7
Type (Divestiture) 1 of 3
State (Kentucky) 1 of 1
Country (United States) 1 of 10
Year (1998) 1 of 1
Size (of disclosed) 6 of 9
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-08-02 MagneTek - Motor Operations

Menomonee Falls, Wisconsin, United States

MagneTek - Motor Operations is a manufacturer of both fractional horsepower and integral horsepower AC and DC electric motors.

Buy $250M

Seller(S) 1

SELLER

General Electric

Boston, Massachusetts, United States
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 2 of 45
Sector (Electrical Equipment) 1 of 5
Type (Divestiture) 2 of 38
State (Kentucky) 1 of 3
Country (United States) 2 of 35
Year (1998) 1 of 1
Size (of disclosed) 20 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1994-10-18 Kidder Peabody

New York, New York, United States

Kidder, Peabody, & Co. is a national brokerage, securities, and wealth management firm.

Sell $670M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-03-01 Reltec

Cleveland, Ohio, United States

Reltec designs, manufactures and sells a wide array of telecommunications products and services via a worldwide network of employees.

Buy $2.1B
Mergr

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