Danaher Corporation (NYSE: DHR) and Eaton (NYSE:ETN) announced Friday that they have completed the previously announced sale of Apex Tool Group to Bain Capital.
Danaher and Cooper Industries each maintained a 50% joint venture ownership interest in Apex. Cooper Industries was acquired by Eaton on November 30, 2012. The divestiture of Apex Tool Group was previously announced on October 10, 2012.
Danaher is a science and technology leader that designs, manufactures, and markets innovative products and services to professional, medical, industrial, and commercial customers. The Danaher Business System has more than 63,000 associates around the world, serving customers in more than 125 countries. In 2012, Danaher generated $18.3 billion of revenue.
Eaton is a diversified power management company. The company is a global technology leader in electrical products, systems and services for power quality, distribution and control, power transmission, lighting and wiring products; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use; and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety. Eaton acquired Cooper Industries plc in 2012. Eaton has approximately 100,000 employees and sells products to customers in more than 150 countries.Tagged with tED