Shearman & Sterling advised industrial conglomerate Textron on the sale of its Tools and Test Business (“Tools & Test”) to Emerson, a global technology and engineering company, for approximately $810 million.  The acquisition, joined with Emerson’s Ridge Tool Company, creates a global $1 billion professional tools business with the broadest offering for mechanical, electrical and plumbing contractors. The closing of the transaction is subject to the satisfaction of customary closing conditions, including the receipt of regulatory approvals.

Textron, headquartered in Providence, Rhode Island, leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services.  Textron and its subsidiaries include brands such as Cessna, Beechcraft, Hawker, Jacobsen and Arctic Cat.

Tools & Test is a leading manufacturer of electrical and utility tools, diagnostics, and test and measurement instruments with strong global distribution and highly respected brands, including Greenlee and Klauke.

Emerson Electric Co., headquartered in St. Louis, Missouri, is a global technology and engineering company providing innovative solutions for customers in industrial, commercial and residential markets.

The Shearman & Sterling team below was supported by Alex Muller (New York- Compensation, Governance & ERISA).

The Team

    Robert Katz
    Sean Skiffington
    John J. Cannon
    Ethan Harris
    Jordan Altman
    Andreas Löhdefink
    Lee Edwards
    Kris Ferranti
    Wayne Dale Collins
    Anders Kraft
    Mehran Massih
    Jason Pratt
    Andreas Piepers
    Kotoe Oshima
    JB Betker
    Jai Garg
    Ryan Au
    Philipp Jaspers
    Aleksandra Petkovic
    Odilo Wallner
    Helen Quigley
    Weina Guan
    Kim Doan
    Marc Lorenz
    Helene Zotiades