M&A Deal Summary

AO Smith Acquires State Industries

On September 17, 2001, AO Smith acquired electrical equipment company State Industries for 58M USD

Acquisition Highlights
  • This is AO Smith’s 3rd transaction in the Electrical Equipment sector.
  • This is AO Smith’s 9th largest (disclosed) transaction.
  • This is AO Smith’s 3rd transaction in the United States.
  • This is AO Smith’s 1st transaction in Tennessee.

M&A Deal Summary
Date 2001-09-17
Target State Industries
Sector Electrical Equipment
Buyer(s) AO Smith
Deal Type Add-on Acquisition
Deal Value 58M USD
Advisor(s) Seale & Associates, Inc. (Financial)

Target

State Industries

Ashland City, Tennessee, United States
State Industries, Inc., a manufacturer of residential and commercial water heaters.

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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 3 of 14
Sector (Electrical Equipment) 3 of 7
Type (Add-on Acquisition) 1 of 11
State (Tennessee) 1 of 3
Country (United States) 3 of 10
Year (2001) 1 of 1
Size (of disclosed) 9 of 9
PREVIOUS 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
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-11-08 Yueyang Zhongmin Special Electrical Machinery

Yueyang, China

Yueyang Zhongmin Special Electrical Machinery Co., Ltd. is a manufacturer of hermetic motors.

Buy -
Mergr

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