World Library  
Flag as Inappropriate
Email this Article
 

Tomkins plc

Tomkins plc
Public limited company
Industry Engineering
Founded 1925
Headquarters London, United Kingdom
Key people
David Newlands (Chairman)
James Nicol (CEO)
Revenue US$4,180.1 million (2009)[1]
US$84.7 million (2009)[1]
US$(15.6) million (2009)[1]
Owner Onex and the Canada Pension Plan Investment Board
Number of employees
circa 30,000[1]
Website .uk.co.tomkinswww

Tomkins plc is a multinational engineering company headquartered in London, United Kingdom. Its largest division is Industrial & Automotive, which is a major supplier of automotive components and trades primarily under the Dexter Axle, Gates, Ideal Clamp Products and Schrader Electronics brands.[1] Its Building Products division is a major supplier of air distribution products and systems and bath products and trades primarily under the Aquatic brand. In July 2010 Tomkins was acquired by a Canadian consortium of private equity firm Onex Corporation and the Canada Pension Plan Investment Board. In July 2014, The Blackstone Group, the world’s largest buyout firm, agreed to acquire The Gates Corporation, the largest division of Tomkins plc from Onex Corp. (OCX) and Canada Pension Plan Investment Board for $5.4 billion.[2]

Contents

  • History 1
  • Operations 2
  • References 3
  • External links 4

History

Tomkins was founded in 1925 as F.H. Tomkins Buckle Company, a small manufacturer of buckles and fasteners.[3] It was first listed on the London Stock Exchange in 1956.

In 1983, ex-Lord Hanson employee Greg Hutchings acquired a 22.9% stake in the company, and subsequently was appointed Chief Executive.[4] Hutchings expanded Tomkins in a classical conglomerate form through leveraged buyouts, and during the 1980s and early 1990s the company embarked on a succession of acquisitions which rapidly grew its revenue, product range and global reach. Major acquisitions included Smith & Wesson in 1987,[5] RHM in 1992,[6] the US-based Gates Corporation in 1996,[7] which signalled a move into the industrial and automotive markets, and the Stant[8] and Schrader[9] businesses that further bolstered this division. During this era, Tomkins was regarded as the archetypal multi-industrial conglomerate, with a portfolio of assets that had little or nothing in common with one another - and indeed the media delighted in referring to Tomkins as the 'buns-to-guns' company[10] because of its ownership of RHM (baking) and Smith & Wesson (firearms).

Hutchings was forced to resign from the Company in 2000, over a series of false allegations of executive excess.[4] Tomkins sold RHM shortly thereafter,[6] and Smith & Wesson the following year.[5]

After an unsolicited approach, in July 2010 Tomkins was acquired by a Canadian consortium of private equity firm Onex Corporation and the Canada Pension Plan Investment Board for £2.9 billion.[11]

In November, 2012, Tomkins sold their portion of the Building Products group that included: Hart and Cooley, Selkirk and Ruskin to the CPPIB.[12]

Operations

Tomkins has two business groups:

  • Industrial and automotive: the larger business, producing products primarily for the automotive industry.
  • Bath products: produces products including pipes, baths and windows.

References

  1. ^ a b c d e "Annual Report 2009" (PDF). Tomkins plc. Retrieved 26 September 2010. 
  2. ^ Banerjee, Devin (4 April 2014). "Blackstone Agrees to Buy Gates Global in $5.4 Billion LBO". Bloomberg. 
  3. ^ Tomkins: History
  4. ^ a b Hutchings forced to quit
  5. ^ a b Smith & Wesson is sold to maker of Trigger Locks
  6. ^ a b Tomkins sells RHM for £1.1bn
  7. ^ Tomkins agrees to buy Gates Rubber
  8. ^ Tomkins to buy Stant
  9. ^ Deal for equipment maker
  10. ^ Tomkins loses buns-to-guns tag with sale of RHM to Doughty Hanson
  11. ^ "Tomkins agrees to £2.9bn takeover deal". BBC News. July 27, 2010. Retrieved July 27, 2010. 
  12. ^ "CPPIB and Onex Announce Completion of Agreement Involving Tomkins’ Air Distribution Division" (PDF). Retrieved 29 November 2012. 

External links

  • Official website
  • Yahoo profile
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and USA.gov, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for USA.gov and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
 
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
 
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.
 


Copyright © World Library Foundation. All rights reserved. eBooks from Project Gutenberg are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.