M&A Deal Summary

Textron Acquires Optical Boring

On December 3, 1999, Textron acquired machinery company Optical Boring

Acquisition Highlights
  • This is Textron’s 11th transaction in the Machinery sector.
  • This is Textron’s 17th transaction in the United States.
  • This is Textron’s 5th transaction in Michigan.

M&A Deal Summary

Date 1999-12-03
Target Optical Boring
Sector Machinery
Buyer(s) Textron
Deal Type Add-on Acquisition

Target

Optical Boring

Warren, Michigan, United States
Optical Boring Co. design and manufacture of fastener tooling, specializing in critical part carbide and steel dies, anti-crossthread dies, die assemblies, hex punch pins and segmented punch assemblies, paint scraper forming inserts and extrusion tooling.

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Buyer(S) 1

Buyer

Textron

Providence, Rhode Island, United States

Category Company
Founded 1923
Sector Diversified
Employees35,000
Revenue 13.7B USD (2023)
DESCRIPTION
Textron's corporate headquarters in downtown Providence, Rhode Island.
Textron's corporate headquarters in downtown Providence, Rhode Island.

Textron is a multi-industry company that leverages a global network of aircraft, defense, industrial and finance businesses to provide customers with products and services around the world. Textron conducts business through five operating segments: Cessna, Bell, Textron Systems and Industrial, and Finance. Cessna is a general aviation company with two principal lines of business: Aircraft sales and aftermarket services. Bell Helicopter is a supplier of military and commercial helicopters, tiltrotor aircraft, and related spare parts and services. Textron Systems’ product lines consist of unmanned aircraft systems, land and marine systems, weapons and sensors and a variety of defense and aviation mission support products and services. Textron Industrial designs and manufactures a variety of products under three principal product lines, including Fuel Systems and Functional Components, Golf and Turf Care, and Powered Tools, Testing and Measurement Equipment. Textron Finance is a commercial finance business that consists of Textron Financial Corporation. Textron was founded in 1923 and is based in Providence, Rhode Island.


DEAL STATS #
Overall 33 of 48
Sector (Machinery) 11 of 11
Type (Add-on Acquisition) 25 of 39
State (Michigan) 5 of 5
Country (United States) 17 of 30
Year (1999) 13 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-12-03 KSB Annecy SAS

Schwedt, Germany

KSB Annecy SAS designs and manufactures pumps for the oil and gas industry as well as safety-related pumps for nuclear power plants.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-12-16 RIFOCS

Camarillo, California, United States

RIFOCS Corp. designs, manufactures and distributes fiber optic test and measurement equipment, including optical power meters, LED and laser sources, variable attenuators and visual fault finders. RIFOCS also manufactures a range of fiber optics components and accessories designed for field, manufacturing and product qualification in commercial, industrial, and aerospace defense applications.

Buy -