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© anatoly abyshev dreamstime.com PCB | October 11, 2012

Apex Tool Group to be sold to Bain Capital

Cooper Industries and Danaher Corporation will sell Apex Tool Group to Bain Capital for approximately 1.6 billion USD.
Currently, Cooper and Danaher each maintain a 50 percent joint venture ownership interest in the equipment manufacturer, Apex. 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.

Goldman Sachs served as the exclusive financial advisor to Apex Tool Group.

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