Johnson Electric completes Stackpole acquisition

Dr. Patrick Wang, Johnson Electric's Chairman and Chief Executive, commented, "The combination of Stackpole's pumps and powder metal expertise with Johnson Electric's electric motor capabilities and global resources provides us with a unique opportunity to design and deliver integrated motorised pump solutions for our customers. These innovative new products will strengthen the Group's position as a leading supplier to key engine and transmission applications that contribute to improved fuel economy and reduced emissions." Johnson Electric acquired Stackpole from SI Investors, L.P., a limited partnership majority owned by Crestview Partners, in an all-cash transaction that valued Stackpole at C$800 million on an enterprise value basis. "We are very excited to take this next step with Johnson Electric," said Peter Ballantyne, President and CEO of Stackpole. "It allows for the continued advancement of our core product portfolio and the development of innovative new technologies to meet the changing needs of our industry. It also offers our employees additional benefits from becoming part of a larger manufacturing group that brings global breadth and financial strength to support our growth initiatives over the long term." The combined company has a global workforce of over 37'000, with operations in more than 20 countries worldwide.