Tomkins to Sell Air Distribution Business
September 21 2012 - 8:00AM
Business Wire
On September 20, 2012, the Canada Pension Plan Investment Board
(“CPPIB”) has agreed to purchase all of the equity interests in
certain indirect subsidiaries of Pinafore Holdings B.V. (the
“Company”) that comprise the Company’s air distribution
division.
The aggregate consideration payable in the transaction will be
approximately $1.1 billion in cash (subject to certain customary
adjustments). The air distribution division manufactures air
distribution and ventilation products for residential and
non-residential buildings and air movement and control products for
industrial and infrastructure applications, in each case primarily
in North America. The closing of the transaction is subject to
customary conditions and is expected to occur in the last quarter
of 2012.
Credit Suisse and BofA Merrill Lynch served as financial
advisors to subsidiaries of the Company involved in the
transaction.
Forward-Looking Statements
This release may contain statements that are or may be
forward-looking statements. Forward-looking statements include
statements that typically contain words such as “expect,”
“believe,” “intend,” “anticipate,” “estimate,” “will,” “may,”
“could,” “should” and similar expressions. The Company cautions
that any forward-looking statements made by the Company are not
guarantees of future performance or events and are subject to risks
and uncertainties that may cause actual results to differ
materially from those predicted. Certain of these risks and
uncertainties are described in the Company’s annual report on Form
20-F in the “Risk Factors” section on pages 3 to 15. Other unknown
or unpredictable factors could cause actual results to differ
materially from those in the forward-looking statements. Therefore
investors should not place undue reliance on such statements as a
prediction of actual results. These forward-looking statements
represent our view only as of the date they are made and we are not
under any obligation to update forward-looking statements contained
herein, except as may otherwise be required by law.
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