Divestiture • Machinery

Caterpillar Acquires Perkins Engines Co.

On December 12, 1997, Caterpillar acquired machinery company Perkins Engines Co. from LucasVarity for 1.3B USD

Acquisition Context
  • This is Caterpillar’s 5th transaction in the Machinery sector.
  • This is Caterpillar’s 2nd largest (disclosed) transaction.
  • This is Caterpillar’s 1st transaction in the United Kingdom.

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M&A Deal Summary

Date December 12, 1997
Target Perkins Engines Co.
Sector Machinery
Buyer(s) Caterpillar
Sellers(s) LucasVarity
Deal Type Divestiture
Deal Value 1.3B USD

Target Company

Perkins Engines Co.

Eastfield, United Kingdom
Perkins Engines is a diesel engine manufacturer. Perkins supplies engines for markets including Agricultural, Construction, Material Handling, Power Generation and Industrial.
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Buyer Overview 1

Buyer

Caterpillar

Irving, Texas, United States

Category Company
Founded 1925
Sector Machinery
Employees112,900
Revenue 64.8B USD (2024)
DESCRIPTION
Caterpillar office in Tucson, Arizona.
Caterpillar office in Tucson, Arizona.

Caterpillar is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Caterpillar principally operates through three product segments. These include Resource Industries, Construction Industries, and Energy & Transportation. Caterpillar also provides financing and related services through its Financial Products segment. Caterpillar was incorporated in 1925 and is based in Irving, Texas.


Deal Context for Buyer #
Overall 7 of 39
Sector: Machinery 5 of 22
Type: Divestiture 3 of 9
Country: United Kingdom 1 of 4
Year: 1997 2 of 2
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-01-01 Maschinenbau Kiel-Marine Diesel

Kiel, Germany

Maschinenbau Kiel-Marine Diesel, desigins, manufactures and markets marine diesel engines, diesel locomotives.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-04-09 Kato Engineering

Mankato, Minnesota, United States

Kato Engineering is a manufacturer of electric generators for power plants based in Mankato, Minnesota.

Buy -

Seller Profile 1

SELLER

LucasVarity

United Kingdom

Category Company
Founded 1996
Sector Machinery
DESCRIPTION

LucasVarity PLC, an auto-parts and aerospace company formed in September 1996.


Deal Context for Seller #
Overall 1 of 1
Sector: Machinery 1 of 1
Type: Divestiture 1 of 1
Country: United Kingdom 1 of 1
Year: 1997 1 of 1
Size (of disclosed) 1 of 1

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