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  6. Textron Acquires Ring Screw Works

M&A Deal Summary

Textron Acquires Ring Screw Works

On May 6, 1998, Textron acquired automotive company Ring Screw Works

Acquisition Highlights
  • This is Textron’s 9th transaction in the Automotive sector.
  • This is Textron’s 7th transaction in the United States.
  • This is Textron’s 3rd transaction in Michigan.

M&A Deal Summary
Date 1998-05-06
Target Ring Screw Works
Sector Automotive
Buyer(s) Textron
Deal Type Add-on Acquisition

Target

Ring Screw Works

Madison Heights, Michigan, United States
Ring Screw Works is a supplier of specialty threaded fasteners to the automotive industry. Ring Screw Works has 11 facilities, all located within a 50-mile radius of Detroit and employs nearly 1,100 people.

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Buyer(S) 1

Buyer

Textron

Providence, Rhode Island, United States
Category Company
Founded 1923
Sector Diversified
Employees34,000
Revenue 13.7B USD (2024)
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 was founded in 1923 and is based in Providence, Rhode Island.

DEAL STATS #
Overall 16 of 48
Sector: Automotive M&A 9 of 12
Type: Add-on Acquisition M&A Deals 12 of 39
State: Michigan M&A 3 of 5
Country: United States M&A 7 of 30
Year: 1998 M&A 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-03-31 Sükosim Verbindungselemente Group

Germany

Sükosim Verbindungselemente Group is a maker of fastening systems and components for European automotive and construction industries. Sükosim's key customers include: Mercedes Benz, Opel, Volkswagen, BMW, Bosch and Audi. Sükosim's three Germany-based plants, employing approximately 350 people.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-05-28 Peiner Umformtechnik

Germany

Peiner Umformtechnik GmbH is a manufacturer of large-diameter, cold-formed and hot-forged bolts and nuts for large truck, heavy industrial and construction customers, such as Mercedes Group, Motoren Werke and John Deere.

Buy -
Mergr

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