Onex completes Tomkins’ Air Distribution unit sale CPPIB

Onex completes Tomkins’ Air Distribution unit sale to CPPIB

7:21 AM, 12th November 2012
Onex completes Tomkins’ Air Distribution unit sale to CPPIB

TORONTO, CANADA: Onex Corporation completed sales of Tomkins’ Air Distribution division to Canada Pension Plan Investment Board (CPPIB) for $1.1 billion. With this acquisition, CPPIB has acquired directly a significant majority interest in the Air Distribution division, including the portion that CPPIB did not currently own indirectly through Tomkins.

In 2010, Onex and CPPIB jointly acquired Tomkins, an industrial holding company that operates a number of businesses serving the general industrial, automotive and construction markets around the globe.

Tomkins’ Air Distribution division is a leading North American manufacturer of products that are used to distribute, recycle and vent air, and which are critical components of HVAC systems within non-residential and residential buildings. The Air Distribution division designs and manufactures a broad range of products which are marketed under many well-known brand names including Titus, Krueger, Ruskin and Hart & Cooley.

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