M&A Deal Summary

Honeywell Acquires E-Mon

On July 26, 2010, Honeywell acquired test/measurement equipment company E-Mon from Branford Castle Partners and Peninsula Capital Partners

Acquisition Highlights
  • This is Honeywell’s 1st transaction in the Test/Measurement Equipment sector.
  • This is Honeywell’s 32nd transaction in the United States.
  • This is Honeywell’s 1st transaction in Pennsylvania.

M&A Deal Summary

Date 2010-07-26
Target E-Mon
Sector Test/Measurement Equipment
Buyer(s) Honeywell
Sellers(s) Branford Castle Partners
Peninsula Capital Partners
Deal Type Add-on Acquisition
Advisor(s) Harris Williams & Co. (Financial)

Target

E-Mon

Langhorne, Pennsylvania, United States
E-Mon LLC is a manufacture of solid-state electronic kilowatt-hour submeters, automatic meter reading & billing software and other energy management products and services.

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Buyer(S) 1

Buyer

Honeywell

Charlotte, North Carolina, United States

Category Company
Founded 1885
Sector Diversified
Employees95,000
Revenue 36.7B USD (2023)
DESCRIPTION
Honeywell office in Hyderabad, India.
Honeywell office in Hyderabad, India.

Honeywell is a diversified technology and manufacturing company, serving customers worldwide with aerospace products and services, control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals, and energy efficient products and solutions for homes, business and transportation. Honeywell was founded in 1885 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 48 of 84
Sector (Test/Measurement Equipment) 1 of 3
Type (Add-on Acquisition) 37 of 64
State (Pennsylvania) 1 of 2
Country (United States) 32 of 56
Year (2010) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-19 Sperian Protection S.A.

Paris, France

Sperian Protection S.A., services in personal protective equipment (hearing, eye, respiratory and fall protection, gloves, clothing and footwear) resolutely geared towards international markets. The Group offers innovative products adapted to high-risk environments so that workers in the manufacturing and services industries can work with confidence.

Buy $1.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-13 EMS Technologies

Norcross, Georgia, United States

EMS Technologies, Inc. a provider of connectivity solutions for mobile networking, rugged mobile computers, and satellite communications.

Buy $491M

Seller(S) 2

SELLER

Branford Castle Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Branford Castle is a private investment firm that seeks investments in traditional companies with stable cash flows. Branford Castle prefers investing in 'old economy' businesses valued up to $100 million. Brandford will consider public or private companies, but the Firm will not invest in bankrupt, turnaround, or distressed situations. Sectors of interest include manufacturing, commercial distribution, services, consumer products, publishing, restaurants, and infrastructure. Branford Castle was formed in 1986 and is based in New York City.


DEAL STATS #
Overall 2 of 9
Sector (Test/Measurement Equipment) 1 of 1
Type (Add-on Acquisition) 2 of 5
State (Pennsylvania) 1 of 2
Country (United States) 2 of 8
Year (2010) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-01 American Condenser & Coil

Gardena, California, United States

American Condenser has the widest selection of air conditioning condensers in the automotive aftermarket, primarily supplying warehouse distributors. American Coil is a leading supplier of replacement industrial/commercial HVAC coils in the western US.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-26 American Condenser & Coil

Gardena, California, United States

American Condenser has the widest selection of air conditioning condensers in the automotive aftermarket, primarily supplying warehouse distributors. American Coil is a leading supplier of replacement industrial/commercial HVAC coils in the western US.

Sell -
SELLER

Peninsula Capital Partners

Southfield, Michigan, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1995
PE ASSETS 1.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Peninsula Capital Partners is an investment group focused on providing a range of financing solutions to middle-market companies. The Firm is willing to be a minority or control investor and invests across the capital structure. This includes subordinated debt, preferred or common stock. For mezzanine commitments, Peninsula looks to invest $5 to $40 million. For equity transactions, Peninsula looks to invest $2 to $20 million. Peninsula is a generalist investor. Target sectors include manufacturing, industrial service, distribution, consumer products, professional services, retail, applied technology, transportation, food processing and packaging. Peninsula Capital Partners was formed in 1995 and is based in Detroit, Michigan.


DEAL STATS #
Overall 22 of 47
Sector (Test/Measurement Equipment) 1 of 1
Type (Add-on Acquisition) 12 of 23
State (Pennsylvania) 2 of 2
Country (United States) 21 of 44
Year (2010) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-26 Cloud Packaging Solutions

Des Plaines, Illinois, United States

Cloud Packaging Solutions provides a full range of packaging solutions in the food and beverage, consumer, industrial, over-the-counter pharmaceutical, and personal care industries. Cloud Packaging Solutions Product Images. It also designs and manufactures high-speed packaging equipment, and has developed cutting edge solutions for packaging machinery based on continuous-motion horizontal form-fill-seal (HFFS) technology. Cloud Packaging Solutions was formed in 1929 and is based in Des Plaines, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-03 Southland Sanitation

Gaston, South Carolina, United States

Southland Sanitation, Inc. is a residential, commercial and industrial/construction waste hauler, operating in the Columbia, S.C. vicinity.

Sell -