A. O. Smith Corporation acquired GE hermetic electric motors operations (General Electric Industrial Control Systems Division, Scottsville, KY) for $120 million in cash (subject to adjustment), a transaction completed in July 1998, structured as all cash. The deal was a Asset purchase.
GE hermetic electric motors operations (General Electric Industrial Control Systems Division, Scottsville, KY) operates in Electric Motor Technologies, is based in Scottsville, Kentucky, USA. A. O. Smith acquired substantially all of the assets of General Electric's Industrial Control Systems Division relating to GE's hermetic electric-motor operations in Scottsville, Kentucky, under an Asset Purchase Agreement dated May 13, 1998, adding hermetic motor manufacturing to A. O. Smith's electric-motor business. (A. O. Smith later divested its electric-motor business to Regal Beloit in 2011.)
Expansion of A. O. Smith's electric-motor product range and manufacturing capacity.
Advisory firms were not disclosed for this transaction.