The Firm is representing Rosebank Industries plc in connection with its announced acquisition of Electrical Components International (“ECI”), a private US-based market leader in critical electrical distribution systems. ECI will be acquired for cash for an enterprise value of less than $1.9 billion on a debt and cash free basis. The acquisition will be financed through debt facilities and a fully underwritten institutional capital raise of approximately £1.14 billion.
ECI is an electrical components business focused on North America, where it has market leading positions principally producing wire harnesses and controls, often for large blue-chip customers in the industrial, electrification, HVAC and appliance end markets.
Rosebank was established in 2024 and its strategy is to acquire quality industrial or manufacturing businesses with strong fundamentals whose performance may be improved so as to create shareholder value. This will be Rosebank's first acquisition under management's successful "Buy, Improve, Sell" model of shareholder value creation via the transformation of industrial businesses in the US and Europe.
The Simpson Thacher team includes Lucy Gillett, Keegan Lopez, Adam Signy, Eric Swedenburg, Deborah Harris, Thomas Kannan, John Saunders, David Goodman, Nick Scian, and Neha Goyal (M&A and Corporate); Andrew Bechtel, Harry Briffitt, Rachel Roberts and Ruairi McGill (U.K. Credit); Nick Shaw, Srishti Gupta, Surya Bala and Lampros Anastasopoulos (U.S. Capital Markets); Sophie Staples, Andrew Mandelbaum, Benjamin Bressler and Oliver Rosshandler (Tax); Greg Grogan, Jesslyn Nunez and Claire Kamau (Executive Compensation & Employee Benefits); David Caldwell, Daniel Deacon, Mark Collier and Cary Milanes (Regulatory); Mick Tuesley, Etienne Renaudeau, Josh Buckland, James Perry, Luke Cowdell, Austin Lowe, and Giovanna De Cristofaro (Antitrust and Foreign Direct Investment); Toby Chun and Deepa Sarkar (Environmental); Krista McManus and Helene Marie Snyder (Real Estate); Lori Lesser, Kate Mirino and Christian Bond (Intellectual Property).