TITLE

Bain-backed FCI Unloads Burndy Unit

AUTHOR(S)
MacFadyen, Ken
PUB. DATE
July 2009
SOURCE
Mergers & Acquisitions Report;7/27/2009, Vol. 22 Issue 30, p13
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the sale of Manchester, New Hampshire-based FCI Americas to Hubbell Inc. The deal is valued at 360 million U.S. dollars. FCI was acquired by Bain Capital from Areva for 934 million U.S. dollars in 2005. The cost-cutting efforts resulted from the distress among automakers and reduced consumer demand. According to FCI, it has received many unsolicited offers for the division. FCI's chief executive officer (CEO) Pierre Vareille said that the division had the least synergies with FCI's other divisions.
ACCESSION #
44148521

 

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