MUELLER INDUSTRIES INC acquired Tecumseh Products Company for $5.00 per share cash tender offer (acquired through a 50/50 joint venture, MA Industrial JV LLC, with affiliates of Atlas Holdings), a transaction completed in November 2015, structured as all cash. The deal was a Merger (joint-venture tender offer).
Tecumseh Products Company operates in Joint venture (Atlas Holdings), is based in Michigan, United States. Tecumseh Products is a global manufacturer of hermetically sealed compressors used in refrigeration and air-conditioning systems, with manufacturing operations spanning several countries and more than 5,000 employees. Mueller acquired the business alongside Atlas Holdings through a 50/50 joint venture. Adding Tecumseh's compressor lines broadened Mueller's participation in the refrigeration and HVAC end markets it already served.
Take-private of a global compressor manufacturer via a 50/50 partnership with Atlas Holdings. Held through MA Industrial JV LLC (50% Mueller / 50% Atlas Holdings) as an unconsolidated affiliate (Tecumseh Products Holdings LLC)
On August 5, 2015, MA Industrial JV LLC (the Parent), a Delaware limited liability company in which DENO Investment Co. II (DENO), a wholly-owned subsidiary of Mueller Industries, Inc., owns a 50% interest (with the remaining 50% owned by affiliates of Atlas Holdings)... entered into an Agreement and Plan of Merger... Sub will... commence a cash tender offer to purchase all of the outstanding shares... of Tecumseh at a purchase price of $5.00 for each Share.Mueller Industries Form 8-K, August 7, 2015
Advisory firms were not disclosed for this transaction.