Emerson Sells Brooks Instrument
Brooks, headquartered in Hatfield, PA, provides flow measurement and control devices to the low flow application market, and principally serves the chemical and semiconductor industries. Its sales in fiscal 2007 were approximately $90 million.
Brooks Instrument has performed well for Emerson, said David N. Farr, chairman, CEO and president. However, we believe Brooks alignment within AIPs business provides the right synergy going forward for both companies.
The sale of Brooks is representative of Emersons ongoing strategy to manage its business mix toward high-growth, high-return businesses that are strategic to its entire portfolio. Over the past 18 months, Emerson sold several small businesses which included its Western Forge hand tool unit and Buehler materials testing business, and in recent weeks sold its joint venture interest in Industrial Motion Control (IMC). Emerson also made a number of strategic acquisitions in the past year. Most recently, Emerson in September agreed to acquire Motorolas Embedded Communications Computing (ECC) business for $350 million. That transaction also closed on Dec. 31.
Emerson (NYSE:EMR), based in St. Louis, is a global leader in bringing technology and engineering together to provide innovative solutions to customers through its network power, process management, industrial automation, climate technologies, and appliance and tools businesses. Sales in fiscal 2007 were $22.6 billion.
About American Industrial Partners
Founded in 1989, American Industrial Partners is a private equity firm that makes control equity investments in mid-sized industrial companies that can benefit from the firms systematic approach to implementing strategic and operational improvements.
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