Tomkins sells Dearborn Mid-West

Tomkins has sold it’s Dearborn Mid-West Conveyor Company to Knox Lawrence International, a New York-based private equity group. Terms of the deal were not disclosed.

‘At the beginning of the year we announced our intention to dispose of businesses that we identified as non-core to the future development of the Tomkins Group,’ said James Nicol, CEO of Tomkins. ‘I am pleased with the deal we have reached for the disposal of Dearborn Mid-West to Knox Lawrence International. This is the third disposal we have announced this financial year and shows good progress against our stated objective.’

Dearborn Mid-West designs, fabricates and installs complex, highly engineered overhead conveyer systems, inverted power and free conveyer systems, skillet systems and automated monorail systems. In 2006 the business had annual sales of $189m and gross assets of $61.8m.