Johnson Electric to buy Stackpole International for $608 millionStaff writer ▼ | August 12, 2015
Johnson Electric Holdings agreed to acquire the Stackpole International group of companies, a supplier of engine and transmission pumps and powder metal components, primarily for automotive applications, for C$800 million ($608 million).
Acquisition Stackpole of Canada to be sold
Its blue-chip customer base is comprised mainly of the world’s leading automotive original equipment manufacturers and their Tier 1 suppliers. Since its carve-out from the Gates Corporation of Canada in 2011, Stackpole has been under private equity ownership and is presently owned by SI Investors, L.P., a limited partnership majority owned by Crestview Partners.
Stackpole’s consolidated revenues for the year ended December 31, 2014 were C$487 million, excluding sales from its 30%-owned non-consolidated joint venture in Korea and China. Approximately 80% of its consolidated sales were made to customers based in North America.
Stackpole’s 2014 normalised earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to C$82 million, including a proportional share of EBITDA from its non-consolidated joint venture business. ■