M&A Deal Summary

Leggett & Platt Acquires Western Pneumatic Tube Co.

On January 12, 2012, Leggett & Platt acquired manufacturer Western Pneumatic Tube Co. from Tinicum Capital Partners for 188M USD

Acquisition Highlights
  • This is Leggett & Platt’s 4th transaction in the Manufacturing sector.
  • This is Leggett & Platt’s 2nd largest (disclosed) transaction.
  • This is Leggett & Platt’s 21st transaction in the United States.
  • This is Leggett & Platt’s 1st transaction in Washington.

M&A Deal Summary

Date 2012-01-12
Target Western Pneumatic Tube Co.
Sector Manufacturing
Buyer(s) Leggett & Platt
Sellers(s) Tinicum Capital Partners
Deal Type Add-on Acquisition
Deal Value 188M USD

Target

Western Pneumatic Tube Co.

Kirkland, Washington, United States
Western Pneumatic Tube Co. is a provider to the aerospace industry of integral components for critical aircraft systems.

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Buyer(S) 1

Buyer

Leggett & Platt

Carthage, Missouri, United States

Category Company
Founded 1883
Sector Manufacturing
Employees17,700
Revenue 4.4B USD (2024)
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 27 of 30
Sector: Manufacturing M&A 4 of 4
Type: Add-on Acquisition M&A Deals 26 of 29
State: Washington M&A 1 of 1
Country: United States M&A 21 of 23
Year: 2012 M&A 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-11 Displayplan

Baldock, United Kingdom

Displayplan is a retail display consultant, providing a complete service from concept, through design and sourcing to finished product delivery. Displayplan was founded in 1984 and is based in Baldock, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-26 Team Fenex

Sandoval, Illinois, United States

Team Fenex Ltd., provides a large variety of blowers, submersible pumps, and other accessories used in manhole support for underground utility companies and contractors.

Sell -

Seller(S) 1

SELLER

Tinicum Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Tinicum Capital Partners is a private equity group that seeks to acquire control of companies through acquisitions or restructurings or to take minority stakes in public or private companies through equity or debt securities. Tinicum's target equity investment size is between $30 and $150 million per transaction. Sectors of interest include aerospace; HVAC components; medical devices; financial services; specialty industrial products or components; pumps, valves and other process control equipment; specialty machinery; electrical equipment; motors and motion control equipment; specialty metals/magnetics; and media/advertising. The Firm will not consider investments in venture capital, real estate, or unproven technology. Tinicum was formed in 1998 and is based in New York City.


DEAL STATS #
Overall 13 of 28
Sector: Manufacturing M&A 1 of 1
Type: Add-on Acquisition M&A Deals 6 of 13
State: Washington M&A 1 of 1
Country: United States M&A 11 of 25
Year: 2012 M&A 1 of 3
Size (of disclosed) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-01 Ashby Street Outdoor Holdings

Fayetteville, Arizona, United States

Ashby Street Outdoor Holdings LLC is an outdoor advertising company. Ashby Street operates 91 LED displays with fully automated content management and scheduling. Ashby Street Outdoor Holdings LLC was founded in 2011 and is based in Fayetteville, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-10 X-Rite

Grand Rapids, Michigan, United States

X-Rite is a provider of in color measurement and color management, offering hardware, software and services for measuring, formulating and matching color. The Company serves a range of industries, including printing, packaging, photography, graphic design, video, automotive, paints, plastics, textiles, dental and medical. X-Rite serves customers worldwide from its offices in Europe, Asia and the Americas.

Sell $625M