Jordan Controls, Inc.

 

Client and Buyer:  Rotork plc

Based in Bath, United Kingdom Rotork plc (“Rotork”) is a public company with shares traded on the London Stock Exchange (ROR.L).  Rotork designs, manufactures, and markets flow control and instrumentation solutions for the oil and gas, water and wastewater, power, chemical process, and industrial applications worldwide. It operates through four segments: Controls, Fluid Systems, Gears, and Instruments.

 

Seller:  Jordan Controls, Inc.

Based in Milwaukee, Wisconsin Jordan Controls is a 2nd generation family-owned business manufacturing valve actuators, gear boxes and related industrial controls.  Rotork wanted to expand their core business and product lines in the United States.  Desk research identified Jordan Controls as the ideal partner for Rotork with complementary products and an expanded sales and distribution network.

 

Transaction details:

Rotork paid $6.1m for the entire issued share capital of Jordan Controls and an additional $4.3m to extinguish Jordan Control’s outstanding debt and credit lines.  $1m of additional consideration was paid against confirmed orders received for the calendar year 2002.

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Broker/Dealer:  Not Applicable (pre-FINRA regulation)

Completion:  January 2002