Danaher Corp. and Cooper Industries to sell Apex Tool Group to Bain Capital

Oct. 11, 2012
Bain Capital will acquire Apex Tool Group for $1.6 billion.

Danaher Corp. and Cooper Industries announced that they have signed a definitive agreement to sell Apex Tool Group to Bain Capital for approximately $1.6 billion subject to post-closing adjustments. Currently, Danaher and Cooper each maintain a 50% joint venture ownership interest in Apex. Danaher expects the sale to generate after-tax net proceeds of approximately $650 million.

The closing of the definitive agreement is subject to customary conditions, including regulatory approvals. The parties currently expect that the transaction will close in the first half of 2013.

Sponsored Recommendations

How to Properly Lubricate your Air Tools

Learn how to properly lubricate your AIRCAT air tools to keep them running at peak performance. Discover essential daily maintenance and storage techniques, along with the right...

Save Time with Standard's Kits & Multipacks

Stock up on essential repair kits! Discover how Standard's multipacks simplify repairs and reduce downtime.

Fuel Injection Training – Pro Tips for Techs

Choosing the right fuel injector matters. Learn best practices for selection and related component recommendations.

ABS Sensor Insights – Get the Right Fit Every Time

ABS sensors are critical to vehicle safety. Learn how they interact with electronic systems and how to choose the best replacement.

Voice Your Opinion!

To join the conversation, and become an exclusive member of Vehicle Service Pros, create an account today!