Tomkins plc was a multinational engineering company headquartered in London, United Kingdom. In July 2010 Tomkins was acquired by a Canadian consortium of private equity firm

Onex Corporation Onex Corporation is an investment manager founded in 1984. The firm manages capital on behalf of Onex shareholders, institutional investors and high net worth clients around the world. As of September 30, 2022, Onex had approximately US$47.2 ...

and the

Canada Pension Plan Investment Board The Canada Pension Plan Investment Board (CPPIB; french: Office d'investissement du régime de pensions du Canada), operating as CPP Investments (french: Investissements RPC), is a Canadian Crown corporation established by way of the 1997 ''Cana ...

. 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. Onex Corporation is an investment manager founded in 1984. The firm manages capital on behalf of Onex shareholders, institutional investors and high net worth clients around the world. As of September 30, 2022, Onex had approximately US$47.2 ...

(OCX) and

for $5.4 billion.

History

Tomkins was founded in 1925 as F.H. Tomkins Buckle Company, a small manufacturer of buckles and fasteners. It was first listed on the London Stock Exchange in 1956. In 1983, ex- Lord Hanson employee Greg Hutchings acquired a 22.9% stake in the company, and subsequently was appointed Chief executive.Hutchings forced to quit
/ref> Hutchings expanded Tomkins in a classical

conglomerate Conglomerate or conglomeration may refer to: * Conglomerate (company) * Conglomerate (geology) * Conglomerate (mathematics) In popular culture: * The Conglomerate (American group), a production crew and musical group founded by Busta Rhymes ** Co ...

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 Gates Industrial Corporation plc, based in Denver, Colorado, is a manufacturer of power transmission belts and fluid power products, which are used in diverse industrial and automotive applications. The company employs over 14,000 and has sales ...

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). Hutchings was forced to resign from the company in 2000, over a series of false allegations of executive excess. Tomkins sold RHM shortly thereafter, and Smith & Wesson the following year. After an unsolicited approach, in July 2010 Tomkins was acquired by a Canadian consortium of private equity firm

and the

for £2.9 billion. In November 2012, Tomkins sold their portion of the Building Products group that included: Hart and Cooley, Selkirk and Ruskin to the CPPIB.

References

External links

* {{Authority control Conglomerate companies of the United Kingdom Engineering companies of the United Kingdom Manufacturing companies based in London Defunct companies based in London Companies formerly listed on the London Stock Exchange Companies formerly listed on the New York Stock Exchange Conglomerate companies established in 1925 1925 establishments in England British companies established in 1925 Manufacturing companies established in 1925 Holding companies established in 1925 2010 mergers and acquisitions Onex Corporation Holding companies disestablished in 2010 British companies disestablished in 2010 es:Tomkins