Industrial electric motor manufacturer Brook Crompton has been bought by Singapore-based Lindeteves-Jacoberg in a deal worth £17m ($25m). The vendor was the UK engineering group Ivensys.
Brook Crompton manufactures low voltage AC and DC electric motors with a power range up to 750kW. It produces about a million motors a year for a wide range of applications including cranes, elevators and ski lifts.
In the year to 30 September 2001, the IHP Division of Brook Crompton had sales of £106m but has been loss making over recent years.
Lindeteves-Jacoberg is listed on the Singapore stock exchange and its operations include Western Electric of Australia and Schorch of Germany. Motors account for about 90% of its business.
Brook Crompton had been for sale since March 2001 but it took until February 2002 to close a deal.
Lindeteves-Jacoberg chairman and managing director Lim Say Hui said: “The acquisition of Brook Crompton is a continuation of LJ’s strategy of rapidly expanding its core electric motors business and presents a significant opportunity in view of Brook Crompton’s highly respected brand name, range of products, market presence and the synergies that will result from the acquisition. ” Eurotherm Drives is among businesses still up for sale at Invensys as it seeks to further reduce its debt.
