M&A Deal Summary

Collins & Aikman Acquires Textron - Automotive Trim business

On August 7, 2001, Collins & Aikman acquired automotive company Textron - Automotive Trim business from Textron

Acquisition Highlights
  • This is Collins & Aikman’s 1st transaction in the Automotive sector.
  • This is Collins & Aikman’s 1st transaction in the United States.
  • This is Collins & Aikman’s 1st transaction in Michigan.

M&A Deal Summary
Date 2001-08-07
Target Textron - Automotive Trim business
Sector Automotive
Buyer(s) Collins & Aikman
Sellers(s) Textron
Deal Type Divestiture

Target

Textron - Automotive Trim business

Troy, Michigan, United States
Textron - Automotive Trim business is a technology and cost leader in automotive plastics, including cockpits, instrument panels, door trim, consoles and other large injection molded components. In 2000, Textron Automotive Trim had revenues of over $1.8 billion. Textron Automotive Trim has approximately 13,000 employees and serves major automotive original equipment manufacturers (OEMs) worldwide.

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Buyer(S) 1

Buyer

Collins & Aikman

Southfield,, Michigan, United States
Category Company
Founded 1843
Sector Automotive
Employees23,900
DESCRIPTION

Collins & Aikman LLC supplies automotive flooring and acoustic systems, injection molded interior and exterior components, and convertible top systems.

DEAL STATS #
Overall 1 of 1
Sector (Automotive) 1 of 1
Type (Divestiture) 1 of 1
State (Michigan) 1 of 1
Country (United States) 1 of 1
Year (2001) 1 of 1

Seller(S) 1

SELLER

Textron

Providence, Rhode Island, United States
Category Company
Founded 1923
Sector Diversified
Employees35,000
Revenue 13.7B USD (2023)
DESCRIPTION
Textron's corporate headquarters in downtown Providence, Rhode Island.
Textron's corporate headquarters in downtown Providence, Rhode Island.

Textron is a multi-industry company that leverages a global network of aircraft, defense, industrial and finance businesses to provide customers with products and services around the world. Textron conducts business through five operating segments: Cessna, Bell, Textron Systems and Industrial, and Finance. Cessna is a general aviation company with two principal lines of business: Aircraft sales and aftermarket services. Bell Helicopter is a supplier of military and commercial helicopters, tiltrotor aircraft, and related spare parts and services. Textron Systems’ product lines consist of unmanned aircraft systems, land and marine systems, weapons and sensors and a variety of defense and aviation mission support products and services. Textron Industrial designs and manufactures a variety of products under three principal product lines, including Fuel Systems and Functional Components, Golf and Turf Care, and Powered Tools, Testing and Measurement Equipment. Textron Finance is a commercial finance business that consists of Textron Financial Corporation. Textron was founded in 1923 and is based in Providence, Rhode Island.

DEAL STATS #
Overall 5 of 16
Sector (Automotive) 1 of 2
Type (Divestiture) 5 of 15
State (Michigan) 2 of 3
Country (United States) 5 of 14
Year (2001) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-12-06 Tempo Research

Vista, California, United States

Tempo Research Corp. designs, manufactures, and markets telecommunications testing equipment. Tempo's product line includes the Sidekick test instrument, which is an industry standard, and the new VIP Sidekick which is used with a laptop computer to test, evaluate and manage test results.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-08-14 Textron - DIY

United States

Textron - DIY (Do-It-Yourself) is a distributor of fastening hardware, picture and mirror hanging hardware and accessories to the do-it-yourself retail market.

Sell -
Mergr

Product

Company

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