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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Emerson Electric Co | NYSE:EMR | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
1.26 | 1.19% | 107.50 | 107.56 | 106.01 | 106.86 | 6,898,520 | 01:00:00 |
NEW YORK, March 3, 2022 /PRNewswire/ -- One Rock Capital Partners, LLC ("One Rock") today announced that one of its affiliates has entered into a definitive agreement to acquire Therm-O-Disc, a subsidiary of Emerson (NYSE: EMR).
Therm-O-Disc is a leading designer and manufacturer of safety-critical sensors, thermal cutoffs and sealed connecting components primarily used in heating, ventilation and air conditioning, appliance, water heater, industrial, aerospace & defense, and transportation applications. Headquartered in Mansfield, Ohio, Therm-O-Disc has over 4,000 employees globally.
"Therm-O-Disc is well-positioned as a leading global manufacturer of branded, essential sensor and safety products," said R. Scott Spielvogel, Managing Partner of One Rock. "We are excited to collaborate with management to drive innovation, enhance strong operational capabilities and serve Therm-O-Disc's customers, building on the long history as an industry leader."
"As a firm, One Rock has a depth of experience in corporate carve-outs, which we look forward to applying to establish Therm-O-Disc as a strong, independent company well-positioned for growth," added One Rock Managing Partner Tony W. Lee.
"Our partnership with One Rock marks an exciting next chapter for Therm-O-Disc, and their knowledge and experience of global engineering-driven industrial businesses will align well with our aim to bring innovation and superior service to our customers," said Vicki Dawkins, President of Therm-O-Disc. "We look forward to leveraging One Rock's strategic and operational expertise as we continue to scale our offerings."
Completion of the transaction, which is expected in the first half of 2022, is subject to applicable regulatory approvals and customary closing conditions.
ABOUT ONE ROCK CAPITAL PARTNERS, LLC
One Rock makes controlling investments in companies with potential for growth and operational improvement using a rigorous approach that utilizes highly experienced Operating Partners to identify, acquire and enhance businesses in select industries. The involvement of these Operating Partners affords One Rock the ability to conduct due diligence and consummate acquisitions and investments in all types of situations, regardless of complexity. One Rock works collaboratively with company management and its Operating Partners to develop a comprehensive business plan focused on growing the enterprise and its profitability to enhance long-term value. For more information, visit www.onerockcapital.com.
ABOUT EMERSON
Emerson (NYSE:EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial and residential markets. Our Automation Solutions business helps process, hybrid and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Commercial and Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency, and create sustainable infrastructure. For more information, visit www.emerson.com.
MEDIA CONTACT
Hallie Erlich
Prosek Partners for One Rock Capital
pro-onerock@prosek.com
View original content:https://www.prnewswire.com/news-releases/one-rock-capital-partners-to-acquire-therm-o-disc-from-emerson-301494979.html
SOURCE One Rock Capital Partners, LLC
Copyright 2022 PR Newswire
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