Danaher Corp. (Washington, DC) announced that it has entered into a definitive agreement to purchase Thomson Industries Inc. (Port Washington, NY) for $165.0 million and an additional contingent consideration based on the future performance of Thomson. The closing of the transaction is subject to certain customary conditions. Danaher expects the acquisition to be neutral to Danaher’s 2002 earnings per share.
Thomson Industries, with latest 12-month revenues of approximately $155.0 million, is the leading US producer of linear motion control products, including linear actuators, ball screws, linear bearings, and rails and precision gearboxes, for a range of precision motion applications in medical, industrial, aerospace and mobile off-highway markets. Danaher Motion will combine its existing linear actuator and component businesses with Thomson Industries to create a leading global competitor in linear motion.
"With the acquisition of Thomson, Danaher will offer our customers the broadest range of standard and custom linear motion solutions in the market today," said H. Lawrence Culp, Jr., president and CEO. "Thomson, with a highly-regarded brand and deep product range, is an excellent extension of Danaher's broad leadership in precision motion control."