John Crane, a division of global technology business Smiths Group, has acquired the business and assets of Turbo Components and Engineering (TCE).
Round-up of today’s M&A deals
John Crane, a division of global technology business Smiths Group, has acquired the business and assets of Turbo Components and Engineering (TCE), a company which services, repairs and builds replacement bearings and seals used in critical rotating equipment.
According to a statement the transaction will bolster Manchester-based John Crane and Smiths Group in the practical application of technologies, with products and services for the threat & contraband detection, medical devices, energy and communications markets.
John Crane president, Paul Cox, comments: ‘TCE adds capability for servicing bearings to our growing aftermarket platform, creating an end-to-end product and service solution for our customers.
‘This provision of more technically differentiated solutions will improve both the scale and overall profitability of the bearings product line in the immediate future.’
TCE also fits John Crane’s stated strategy of broadening its addressable market, using the core competencies within its global and local sales and service infrastructure. It will become part of John Crane Bearings Technology, formed following the acquisitions of Sartorius Bearing Technology in October 2007 and Orion Corporation in May 2009.
The cash-based purchase price was not disclosed.
Round-up of today’s M&A deals
- UK digital creative agency Tangent One and customer insight agency Snowball have merged as Tangent Snowball, with Snowball founder Damian Bentley taking the reins as managing director
Value: The merger creates an agency with turnover in excess of £12 million
Advisers: undisclosed
- R.R. Donnelley & Sons, a publishing services company, adds LibreDigital, a digital publishing and distribution business
Value: undisclosed
Advisers: undisclosed
- RTS Realtime Systems Group, a trading services provider headquartered in Frankfurt, Germany, has closed on its transaction to acquire First Futures Software Engineering Pvt
Value: undisclosed
Advisers: undisclosed
