Johnson Electric completes $800 mln buy of PE-owned Stackpole
Hong Kong’s Johnson Electric Holdings Ltd has completed its acquisition of Stackpole International, a Canadian supplier of engine and transmission pumps and powder metal components, primarily for automotive applications. The all-cash transaction valued Stackpole at $800 million. Stackpole, which will remain based in Ancaster, Ontario, was sold by an investor group led by U.S. private equity firm Crestview Partners. As reported by PE Hub Canada in August, Crestview was expected to see a more than 30 percent internal rate of return from the sale. Crestview and CITIC Capital bought the company from the Sterling Group for US$500 million in 2013. It was carved out of Gates Canada in 2011.
29 October 2015•3 mins read
