|Public limited company|
|Headquarters||London, United Kingdom|
|David Newlands (Chairman)
James Nicol (CEO)
|Revenue||US$4,180.1 million (2009)|
|US$84.7 million (2009)|
|US$(15.6) million (2009)|
|Owner||Onex and the Canada Pension Plan Investment Board|
Number of employees
Tomkins plc is a multinational engineering company headquartered in London, United Kingdom. Its largest division is Industrial & Automotive, which is a major supplier of automotive components and trades primarily under the Dexter Axle, Gates, Ideal Clamp Products and Schrader Electronics brands. Its Building Products division is a major supplier of air distribution products and systems and bath products and trades primarily under the Aquatic brand. In July 2010 Tomkins was acquired by a Canadian consortium of private equity firm Onex Corporation and the Canada Pension Plan Investment Board. In July 2014, The Blackstone Group, the world’s largest buyout firm, agreed to acquire The Gates Corporation, the largest division of Tomkins plc from Onex Corp. (OCX) and Canada Pension Plan Investment Board for $5.4 billion.
In 1983, ex-Lord Hanson employee Greg Hutchings acquired a 22.9% stake in the company, and subsequently was appointed Chief Executive. Hutchings expanded Tomkins in a classical conglomerate form through leveraged buyouts, and during the 1980s and early 1990s the company embarked on a succession of acquisitions which rapidly grew its revenue, product range and global reach. Major acquisitions included Smith & Wesson in 1987, RHM in 1992, the US-based Gates Corporation in 1996, which signalled a move into the industrial and automotive markets, and the Stant and Schrader businesses that further bolstered this division. During this era, Tomkins was regarded as the archetypal multi-industrial conglomerate, with a portfolio of assets that had little or nothing in common with one another - and indeed the media delighted in referring to Tomkins as the 'buns-to-guns' company because of its ownership of RHM (baking) and Smith & Wesson (firearms).
Tomkins has two business groups:
- Industrial and automotive: the larger business, producing products primarily for the automotive industry.
- Bath products: produces products including pipes, baths and windows.
- "Annual Report 2009" (PDF). Tomkins plc. Retrieved 26 September 2010.
- Banerjee, Devin (4 April 2014). "Blackstone Agrees to Buy Gates Global in $5.4 Billion LBO". Bloomberg.
- Tomkins: History
- Hutchings forced to quit
- Smith & Wesson is sold to maker of Trigger Locks
- Tomkins sells RHM for £1.1bn
- Tomkins agrees to buy Gates Rubber
- Tomkins to buy Stant
- Deal for equipment maker
- Tomkins loses buns-to-guns tag with sale of RHM to Doughty Hanson
- "Tomkins agrees to £2.9bn takeover deal". BBC News. July 27, 2010. Retrieved July 27, 2010.
- "CPPIB and Onex Announce Completion of Agreement Involving Tomkins’ Air Distribution Division" (PDF). Retrieved 29 November 2012.