Reuters - CPPIB Buys Tomkins Biz for $1.1B
The Canada Pension Plan Investment Board said on Friday it will pay $1.1 billion for the heating and air conditioning business of Tomkins Ltd., a British-based industrial holdings company jointly owned by CPPIB and Onex Corp., Reuters reported. Canadian private equity firm Onex and CPPIB, which manages one of the world's largest pension funds, acquired Tomkins in 2010, and the company has since reduced its debt by selling five non-core businesses for total proceeds of almost $1 billion. The division is a North American manufacturer of residential and non-residential heating, venting and air conditioning products.
24 September 2012•2 mins read
