Emerson has sold its Brooks Instrument division to American Industrial Partners Capital Fund for approximately $100m in cash.
Brooks, headquartered in Hatfield, Pennsylvania, provides flow measurement and control devices to the low flow application market, and principally serves the chemical and semiconductor industries. Its sales in fiscal 2007 were approximately $90m.
The sale of Brooks is part of Emerson’s ongoing strategy to move its business towards high-growth, high-return businesses. Over the past 18 months, Emerson sold several small businesses which included its Western Forge hand tool unit and Buehler materials testing business.In recent weeks, it also sold its joint venture interest in Industrial Motion Control (IMC).
Emerson also made a number of strategic acquisitions last year. Most recently, Emerson agreed to acquire Motorola’s Embedded Communications Computing (ECC) business for $350m in September 2007. That transaction closed on December 31.