M&A Deal Summary

TransTechnology Acquires Eaton - Engineered Fastener Division

On July 13, 1999, TransTechnology acquired automotive company Eaton - Engineered Fastener Division from Eaton for 173M USD

Acquisition Highlights
  • This is TransTechnology’s 1st transaction in the Automotive sector.
  • This is TransTechnology’s largest (disclosed) transaction.
  • This is TransTechnology’s 1st transaction in the United States.

M&A Deal Summary
Date 1999-07-13
Target Eaton - Engineered Fastener Division
Sector Automotive
Buyer(s) TransTechnology
Sellers(s) Eaton
Deal Type Divestiture
Deal Value 173M USD

Target

Eaton - Engineered Fastener Division

United States
Eaton's Engineered Fastener Division manufactures a wide variety of fastening devices for automotive, business equipment, consumer electronics and home appliance markets. The division has manufacturing facilities in Brunswick and Massillon, Ohio and Hamilton, Ontario, Canada.

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Buyer(S) 1

Buyer

TransTechnology

United States
Category Company
Sector Defense
DESCRIPTION

Manufacturer of engineered defense and aerospace products used by government and civilian agencies, aircraft builders, and airlines.

DEAL STATS #
Overall 1 of 1
Sector (Automotive) 1 of 1
Type (Divestiture) 1 of 1
Country (United States) 1 of 1
Year (1999) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-01 TCR Engineered Components

Minneapolis, Minnesota, United States

TCR Engineered Components LLC is a manufacturer of engineered metal components using cold forming and screw machining technologies. TCR Engineered Components was founded in 1953 and is based in Minneapolis, Minnesota.

Sell -

Seller(S) 1

SELLER

Eaton

Dublin, Ireland
Category Company
Founded 1911
Sector Electrical Equipment
Employees92,000
Revenue 23.2B USD (2023)
DESCRIPTION
Eaton's operational headquarters in Beachwood, Ohio.
Eaton's operational headquarters in Beachwood, Ohio.

Eaton is a diversified power management company specializing in electrical, aerospace, hydraulic, and vehicle technologies. Eaton offers a broad portfolio of solutions designed to address the complex challenges of modern industries and infrastructure. Their products encompass a wide range, including electrical distribution and control equipment, energy management systems, aerospace components and systems, hydraulic systems and services, and automotive drivetrain and powertrain systems. Eaton's operational headquarters are in Beachwood, Ohio and its business headquarters is in Dublin, Ireland.

DEAL STATS #
Overall 3 of 11
Sector (Automotive) 2 of 3
Type (Divestiture) 3 of 9
Country (United States) 3 of 9
Year (1999) 1 of 2
Size (of disclosed) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-02-01 Aeroquip-Vickers

Maumee, Ohio, United States

Aeroquip-Vickers is two companies, Aeroquip Corporation and Vickers, Incorporated, world leaders in the design, manufacture and distribution of engineered components and systems to industrial, aerospace and automotive markets. Headquartered in Maumee, Ohio, the company has 15,000 employees and 50 manufacturing and/or assembly sites in 15 countries around the world.

Buy $1.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-12-13 Eaton - Mobile Agricultural Cylinders

United States

Eaton - Mobile Agricultural Cylinders is a manufacturer of mobile agricultural equipment, many of whom export globally. The mobile agricultural cylinders are manufactured at Eaton's plant in Hutchinson, Kansas. Approximately 70 employees in Hutchinson are involved in cylinder manufacturing.

Sell -
Mergr

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