|Arrow Hose & Tubing Inc., a Canadian manufacturer of thermoplastic hose and tubing, has been acquired by Eaton Corporation.|
|Target Company Name||Arrow Hose & Tubing Inc.|
|Buyer Name / MBO Team / MBI Team||Eaton Corporaton|
|Buyer Country||United States|
CFA Toronto West has secured a deal whereby Eaton Corporation, a NASDQ listed diversified industrial manufacturer has acquired Guelph based Arrow Hose & Tubing Inc.
“The acquisition of Arrow Hose & Tubing Inc. complements Eaton’s thermo-plastic hose and tubing product line, increases the company’s offering to the food and beverage industry, and strengthens our presence in the agriculture markets,” said Craig Arnold, Eaton senior vice president and president - Fluid Power Group.
Arrow Hose & Tubing Inc. were represented in the transaction by CFA, with Doug Nix as the lead advisor.
Arrow Hose & Tubing Inc. is a manufacturer of specialty thermoplastic hose and tubing for the industrial, food and beverage, and agricultural markets. The business had 2006 sales of $12 million. The business employs approximately 60 people and has headquarters in Guelph, Ontario
Eaton Corporation is a diversified industrial manufacturer with 2006 sales of $12.4 billion. Eaton is a global leader in electrical systems and components for power quality, distribution and control; fluid power systems and services for industrial, mobile and aircraft equipment; intelligent truck drive-train systems for safety and fuel economy; and automotive engine air management systems, power-train solutions and specialty controls for performance, fuel economy and safety. Eaton has 63,000 employees and sells products to customers in more than 140 countries.
Terms were not disclosed.
|ICFG Office||Toronto, Canada|
|ICFG Advisory||cfa Toronto West, member of ICFG, advised the seller.|