M&A Deal Summary

Steel Partners Acquires Steel Connect

On June 13, 2022, Steel Partners acquired transportation company Steel Connect

Acquisition Highlights
  • This is Steel Partners’ 1st transaction in the Transportation sector.
  • This is Steel Partners’ 5th transaction in the United States.
  • This is Steel Partners’ 1st transaction in Tennessee.

M&A Deal Summary

Date 2022-06-13
Target Steel Connect
Sector Transportation
Buyer(s) Steel Partners
Deal Type Merger
Advisor(s) White & Case (Legal)

Target

Steel Connect

Smyrna, Tennessee, United States
Steel Connect is a holding company whose wholly-owned subsidiary, ModusLink Corporation, serves the supply chain management markets. ModusLink Corporation provides digital and physical supply chain solutions to many of the world's leading brands across a diverse range of industries, including consumer electronics, telecommunications, computing and storage, software and content, consumer packaged goods, medical devices, retail and luxury, and connected devices. With a global footprint spanning North America, Europe, and the Asia Pacific, the Company's solutions and services are designed to improve end-to-end supply chains in order to drive growth, lower costs, and improve profitability. Steel Connect is based in Smyrna, Tennessee.

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Buyer(S) 1

Buyer

Steel Partners

New York, New York, United States

Category Company
Founded 1990
Sector Diversified
Employees5,200
Revenue 2.0B USD (2024)
DESCRIPTION

Steel Partners is a diversified global holding company that engages in multiple businesses through consolidated subsidiaries, associated companies and other interests. It owns and operates businesses and has significant interests in leading companies in various industries, including diversified industrial products, energy, defense, supply chain management and logistics, banking and youth sports. Steel Partners was founded in 1990 and is based in New York, New York.


DEAL STATS #
Overall 5 of 5
Sector: Transportation M&A 1 of 1
Type: Merger M&A Deals 3 of 3
State: Tennessee M&A 1 of 1
Country: United States M&A 5 of 5
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-04 SL Power

Calabasas, California, United States

SL Power is a supplier of power conversion solutions for medical and advanced industrial applications. The company offers medical and advanced industrial original equipment manufacturers (OEMs) an extensive portfolio of standard, modified standard, and custom solutions with superior performance that meet the stringent requirements of mission-critical applications. SL Power was formed in 1960 and is based in Calabasas, California.

Sell $145M