M&A Deal Summary

Leggett & Platt Acquires Precision Hydraulic Cylinders

On February 28, 2018, Leggett & Platt acquired machinery company Precision Hydraulic Cylinders from Owner Resource Group

Acquisition Highlights
  • This is Leggett & Platt’s 2nd transaction in the Machinery sector.
  • This is Leggett & Platt’s 22nd transaction in the United States.
  • This is Leggett & Platt’s 3rd transaction in North Carolina.

M&A Deal Summary

Date 2018-02-28
Target Precision Hydraulic Cylinders
Sector Machinery
Buyer(s) Leggett & Platt
Sellers(s) Owner Resource Group
Deal Type Add-on Acquisition
Advisor(s) Lincoln International (Financial)

Target

Precision Hydraulic Cylinders

Beulaville, North Carolina, United States
Precision Hydraulic Cylinders is a manufacturer and supplier of hydraulic cylinders for original equipment manufacturers in the lift-truck, material handling, and mobile equipment markets. Precision Hydraulic Cylinders was founded in 1997 and is based in Beulaville, North Carolina.

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Buyer(S) 1

Buyer

Leggett & Platt

Carthage, Missouri, United States

Category Company
Founded 1883
Sector Manufacturing
Employees19,300
Revenue 4.7B USD (2023)
DESCRIPTION
Entrance to Leggett & Platt's corporate headquarters in Carthage, Missouri.
Entrance to Leggett & Platt's corporate headquarters in Carthage, Missouri.

Leggett & Platt is a diversified manufacturer that conceives, designs and produces a wide range of engineered components and products found in many homes, offices, retail stores, automobiles and commercial aircraft. The Company's residential furnishing's segment supplies a variety of components used by bedding and upholstered furniture manufacturers in the assembly of their finished products. The Company's commercial fixtures and components group designs, produces, installs and manages our customers’ store fixtures projects as well as designs, manufactures, and distributes a wide range of engineered components and products primarily for the office seating market. The Company's industrial materials segment manufactures a variety of wires and tubing products. The Company's specialized product segment designs, produces and sells components for automotive seating, specialized machinery and equipment, and service van interiors. Leggett & Platt was formed in 1883 and is based in Carthage, Missouri.


DEAL STATS #
Overall 28 of 30
Sector (Machinery) 2 of 2
Type (Add-on Acquisition) 27 of 29
State (North Carolina) 3 of 3
Country (United States) 22 of 23
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-15 Folding Guard

Bedford Park, Illinois, United States

Folding Guard LLC is a manufacturer of indoor perimeter protection solutions. Folding Guard LLC was established in 1962 and is headquartered in Bedford Park, Illinois.

Sell $26M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-07 Elite Comfort Solutions

Newnan, Georgia, United States

Elite Comfort Solutions, Inc. is a provider of specialty foam. Elite Comfort Solutions has a national network of 16 facilities throughout the U.S. Elite Comfort Solution is based in Newnan, Georgia.

Buy $1.3B

Seller(S) 1

DESCRIPTION

Owner Resource Group is a private investment firm focused on acquiring small, profitable companies with at least $3 million of EBITDA. The Firm is a generalist investor but has a preference for engineering-intensive manufacturing, service-supported distribution, and niche services companies. Owner Resource Group is a long-term investor and typically acquires majority positions. Owner Resource Group was established in 2007 and is headquartered in Austin, Texas.


DEAL STATS #
Overall 3 of 8
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 2 of 4
State (North Carolina) 1 of 1
Country (United States) 3 of 8
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-29 US Med-Equip

Houston, Texas, United States

US Med-Equip is a distributor and rental and related services provider of mission-critical moveable medical equipment used in hospitals. The Company provides equipment rentals across four product categories respiratory, infusion, monitoring, and central supply / NICU. US Med-Equip was founded in 2003 and is based in Houston Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-26 K-Tec Earthmovers

Rosenort, Manitoba, Canada

K-Tec Earthmovers, Inc. is a manufacturer of pull-pan earthmoving scrapers and accessories for the construction, mining, and agriculture end-markets, among others. K-Tec Earthmovers was founded in 2000 and is based in Rosenort, Manitoba.

Buy -