M&A Deal Summary

General Electric Acquires Ionics

On November 24, 2004, General Electric acquired environmental company Ionics from Advent International and Element Partners for 1.1B USD

Acquisition Highlights
  • This is General Electric’s 1st transaction in the Environmental sector.
  • This is General Electric’s 13th largest (disclosed) transaction.
  • This is General Electric’s 5th transaction in the United States.
  • This is General Electric’s 1st transaction in Massachusetts.

M&A Deal Summary

Date 2004-11-24
Target Ionics
Sector Environmental
Buyer(s) General Electric
Sellers(s) Advent International
Element Partners
Deal Type Add-on Acquisition
Deal Value 1.1B USD

Target

Ionics

Burlington, Massachusetts, United States
Ionics, Inc. is a designer, installer of water and wastewater treatment systems for power utilities and other industrial customers.

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Buyer(S) 1

Buyer

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 7 of 41
Sector (Environmental) 1 of 2
Type (Add-on Acquisition) 5 of 30
State (Massachusetts) 1 of 1
Country (United States) 5 of 20
Year (2004) 3 of 3
Size (of disclosed) 13 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-15 Edwards Systems Technology

Cheshire, Connecticut, United States

Edwards Systems Technology is a provider of fire detection systems within buildings.

Buy $1.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-03-08 GE IT Solutions

Erlanger, Kentucky, United States

GE IT Solutions is a provider of IT infrastructure consulting, products and services to enterprise customers in North America.

Sell -

Seller(S) 2

SELLER

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 76.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 54 of 221
Sector (Environmental) 2 of 2
Type (Add-on Acquisition) 23 of 82
State (Massachusetts) 12 of 16
Country (United States) 32 of 79
Year (2004) 5 of 5
Size (of disclosed) 16 of 52
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-01 Slag Recycling Sp. z o.o.

Kraków, Poland

Slag Recycling Sp. z o.o. is a producers of metallurgical aggregates and iron skull scrap in Poland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-01 National Bankruptcy Services

Dallas, Texas, United States

National Bankruptcy Services is a provider of technology-enabled default management and bankruptcy processing solutions to financial institutions, credit unions, automobile lenders, and mortgage servicers in all 94 bankruptcy jurisdictions. National Bankruptcy Services was founded in 1999 and is based in Dallas, Texas.

Buy -
SELLER

Element Partners

Wayne, Pennsylvania, United States

Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2005
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Element Partners is a specialist private equity firm focused on late-stage investments in alternative energy and clean technology companies. Target businesses are at or near profitability with experienced management. Sectors of interest include energy/power, water/environmental controls, chemicals/advanced materials, and manufacturing/industrial. Element Partners was formed in the year 2005 and is based in Radnor, Pennsylvania.


DEAL STATS #
Overall 3 of 25
Sector (Environmental) 1 of 2
Type (Add-on Acquisition) 2 of 16
State (Massachusetts) 1 of 2
Country (United States) 3 of 22
Year (2004) 1 of 1
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 EcoSMART Technologies

Roswell, Georgia, United States

EcoSMART Technologies, Inc. is a developer and marketer of proprietary, natural pesticides derived from botanical oils with patented formulations that harness natures own defenses against insects and other pests.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-05-01 RedPrairie

Alpharetta, Georgia, United States

RedPrairie Corp. is a developer and marketer of software for managing warehousing and transportation logistics.

Sell -