M&A Deal Summary

GKN Acquires Astech

On May 1, 2002, GKN acquired engineering company Astech from Summit Partners

Acquisition Highlights
  • This is GKN’s 1st transaction in the Engineering sector.
  • This is GKN’s 2nd transaction in the United States.
  • This is GKN’s 1st transaction in Tennessee.

M&A Deal Summary

Date 2002-05-01
Target Astech
Sector Engineering
Buyer(s) GKN
Sellers(s) Summit Partners
Deal Type Add-on Acquisition

Target

Astech

Chattanooga, Tennessee, United States
Astech, Inc. provides lightweight, high-strength, heat resistant and noise suppression superalloy honeycomb structures for commercial and military aircraft.

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Buyer(S) 1

Buyer

GKN

Redditch, United Kingdom

Category Company
Sector Engineering
Employees51,400
Revenue 9.7B GBP (2017)
DESCRIPTION

GKN is a global engineering company. Known for its expertise in advanced manufacturing, GKN specializes in designing, manufacturing, and supplying innovative components and systems for the automotive, aerospace, and industrial markets. Its extensive product portfolio includes driveline technologies, electric drivetrains, lightweight structures, aerospace systems, and power management solutions. GKN is based in Redditch, United Kingdom.


DEAL STATS #
Overall 3 of 20
Sector (Engineering) 1 of 1
Type (Add-on Acquisition) 2 of 12
State (Tennessee) 1 of 1
Country (United States) 2 of 8
Year (2002) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-02-01 XIK

Lisle, Illinois, United States

Interlake manufactured ferrous metal powders for use primarily in the automotive industry and specialty jet engine components. Interlake also had a materials handling business that it intended to sell.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-07-22 Pilkington Aerospace

Birmingham, United Kingdom

Pilkington Aerospace Ltd. is a supplier of canopies and windows, technically known as transparencies for the military and civil aircraft market. Pilkington Aerospace has a global reputation in the technologies required to produce advanced transparencies in both plastics and glass. It supplies the transparencies for military aircraft programmes such as the FA-18 and C-17 and has a contract to develop and supply transparencies for the F-35 Joint Strike Fighter. GKN already supplies transparencies for the Eurofighter Typhoon and has contracts to develop and supply transparencies for the FA-22 Raptor and the F-16 Falcon. Pilkington also supplies transparencies to all Boeing civil aircraft and leading regional and business jet manufacturers including Embraer, Lear and Cessna.

Buy $68M

Seller(S) 1

SELLER

Summit Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1984
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Summit Partners is a private investment and asset management firm focused on venture, growth, credit, and public equity investing. Sectors of interest include business services, communications technology and services, consumer products, energy, financial services, healthcare and life sciences, industrial products, internet/information services, media/entertainment, semiconductors, electronics, and software. Summit Partners is known for having a proactive business development group for sourcing transactions. Summit will consider both minority or majority investment stakes and is willing to commit as little as $10 million or as much as $500 million in combined debt/junior capital per transaction. The Firm's geographic coverage spans North America and Europe. Summit Partners was formed in 1984 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 84 of 286
Sector (Engineering) 1 of 1
Type (Add-on Acquisition) 33 of 127
State (Tennessee) 2 of 4
Country (United States) 81 of 246
Year (2002) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-01-01 GoldenGate Software

San Francisco, California, United States

GoldenGate Software, Inc. provides real-time, multi-platform database replication and data integration solutions.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-06-03 Infor Global Solutions

New York, New York, United States

Infor Global Solutions, Inc. is a global provider of enterprise business solutions to select manufacturing and distribution industries. Infor Global Solutions, Inc. was formed in 2002 and is based in New York City.

Buy -