M&A Deal Summary

Eaton Acquires Argo-Tech

On March 16, 2007, Eaton acquired aerospace company Argo-Tech from Vestar Capital Partners and Greenbriar Equity Group for 695M USD

Acquisition Highlights
  • This is Eaton’s 2nd transaction in the Aerospace sector.
  • This is Eaton’s 7th largest (disclosed) transaction.
  • This is Eaton’s 13th transaction in the United States.
  • This is Eaton’s 3rd transaction in Ohio.

M&A Deal Summary

Date 2007-03-16
Target Argo-Tech
Sector Aerospace
Buyer(s) Eaton
Sellers(s) Vestar Capital Partners
Greenbriar Equity Group
Deal Type Add-on Acquisition
Deal Value 695M USD

Target

Argo-Tech

Cleveland, Ohio, United States
Argo-Tech Corp. is a designer and manufacturer of proprietary main engine fuel pumps, fuel system boost and transfer pumps and also has a substantial replacement parts and overhaul business principally for commercial jet aircraft.

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Buyer(S) 1

Buyer

Eaton

Dublin, Ireland

Category Company
Founded 1911
Sector Electrical Equipment
Employees92,000
Revenue 23.2B USD (2023)
DESCRIPTION
Eaton's operational headquarters in Beachwood, Ohio.
Eaton's operational headquarters in Beachwood, Ohio.

Eaton is a diversified power management company specializing in electrical, aerospace, hydraulic, and vehicle technologies. Eaton offers a broad portfolio of solutions designed to address the complex challenges of modern industries and infrastructure. Their products encompass a wide range, including electrical distribution and control equipment, energy management systems, aerospace components and systems, hydraulic systems and services, and automotive drivetrain and powertrain systems. Eaton's operational headquarters are in Beachwood, Ohio and its business headquarters is in Dublin, Ireland.


DEAL STATS #
Overall 22 of 59
Sector (Aerospace) 2 of 2
Type (Add-on Acquisition) 11 of 38
State (Ohio) 3 of 6
Country (United States) 13 of 27
Year (2007) 2 of 8
Size (of disclosed) 7 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-05 Power Products - Power Protection Business

Czech Republic

Power Products - Power Protection Business is a provider in electrical control, power distribution, and industrial automation products and services.

Buy $2M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-05 Aphel Technologies

Titchfield, United Kingdom

Aphel Technologies Ltd. is a supplier of high density, fault-tolerant power distribution solutions for datacenters, technical offices, laboratories and retail environments.

Buy -

Seller(S) 2

SELLER

Vestar Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Vestar Capital Partners is a private equity firm that targets management buyouts and growth capital investments across North America and Europe in the consumer, business services, and healthcare sectors. The Firm looks to invest $50 to $150 million in transactions valued up to $1 billion. Specific areas of interest include food, apparel, household goods, retail, consumer services, industrial services, information services, manufacturing, distribution, transportation, financial services, media/communications, digital health media, and medical technology. Vestar Capital Partners was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 32 of 66
Sector (Aerospace) 3 of 3
Type (Add-on Acquisition) 13 of 28
State (Ohio) 3 of 3
Country (United States) 28 of 53
Year (2007) 1 of 4
Size (of disclosed) 13 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-09 The Sun Products

Wilton, Connecticut, United States

The Sun Products Corp. is a manufacturer and marketer of fabric care and household products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-31 Validus Re

Pembroke, Bermuda

Validus Re is a provider of reinsurance and insurance, conducting its operations worldwide through two wholly-owned subsidiaries, Validus Reinsurance, Ltd. and Talbot Holdings Ltd. The company is a Bermuda-based reinsurer focused on short-tail lines of reinsurance. Talbot is the Bermuda parent of the specialty insurance group primarily operating within the Lloyd's insurance market through Syndicate 1183. Validus Re was founded in 2005 and is based in Pembroke.

Sell -
SELLER

Greenbriar Equity Group

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Greenbriar Equity Group is a specialized private equity firm focused on investing in the global transportation and advanced manufacturing industries. Companies of interest include traditional carriers, such as railroads, cruise lines, airlines, air freight, shipping, and trucking, as well as ancillary manufacturers and service companies that support the transportation industry. Greenbriar will consider making majority as well as minority investments through a variety of structures, including leveraged buyouts, recapitalizations, growth capital investments, corporate joint ventures and privatizations. The Firm targets businesses valued from $100 million to $1 billion. Greenbriar Equity was formed in 1999 and is based in Rye, New York.


DEAL STATS #
Overall 1 of 26
Sector (Aerospace) 1 of 6
Type (Add-on Acquisition) 1 of 12
State (Ohio) 1 of 1
Country (United States) 1 of 22
Year (2007) 1 of 1
Size (of disclosed) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-17 Stag-Parkway

Atlanta, Georgia, United States

Stag-Parkway is an aftermarket distributor of recreational vehicle parts and accessories. Stag-Parkway works with suppliers and services a fragmented customer base of RV dealers and independent service locations. Stag-Parkway was formed in 1968 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-15 Grakon

Seattle, Washington, United States

Grakon LLC is a designer and manufacturer of highly-engineered and customized lighting systems and components for transportation markets. Grakon was founded in 1977 and is based in Seattle, Washington.

Buy -