BGL Completes Divestitures for Eaton Corporation and Intermet Corporation
November 28 2000
The investment banking firm of Brown, Gibbons, Lang & Company (BGL) announced it has completed the divestitures of Vickers Electrics of Casella, Italy, a division of Eaton Corporation (NYSE:ETN) and Iowa Mold Tooling Company, Inc., a division of Intermet Corporation (NASDAQ:INMT). Both transactions were completed in October, 2000.
Moog Inc., (AMEX:MOGA) a worldwide manufacturer of precision control components and systems, acquired Vickers Electrics. The company manufactures high-performance electric motors, drives and servo systems.
American Capital Strategies and Management (NASDAQ:ACAS) acquired Iowa Mold Tooling Company Inc., a world-leading innovator in the design, engineering and manufacture of specialized cranes, tire service vehicles, and lubrication and field service vehicles. It also manufactures equipment and related devices for the utility, railroad and mining industries worldwide.
"For both transactions, BGL developed global marketing strategies targeting key strategic and financial buyers," said Andrew K. Petryk, BGL managing director and principal. "The marketing processes resulted in highly-competitive auctions and attractive valuations and structures for our clients."
Brown, Gibbons, Lang & Company is a leading Midwest-based investment bank serving middle market businesses nationally and internationally. Its focus is on the enhancement of client value through meticulous analysis, market expertise and superior process execution. Whether through raising capital or the sale or financial restructuring of a company, BGL tailors a solution for each client's unique situation. In the past three years, BGL has completed more than $3 billion of M&A transactions, more than $600 million of institutional private placements, and has participated in the restructuring of more than 10 businesses, both in and out of bankruptcy.
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