In the 2. Quarter of 2012, Cooper Industries plc has entered into a definitive agreement to acquire the FHF Funke+Huster Fernsig Group of companies (FHF Group), a leading manufacturer and distributor of hazardous and industrial telephones, signalling devices and mining communications systems. FHF Group reported consolidated revenues of EUR 25 million in 2011.
BDO assisted with a team in Frankfurt with the financial and tax due diligence. Cooper Industries is a global electrical products manufacturer with 2011 revenues of USD 5.4 billion. Founded in 1833, the Company has seven operating divisions. In 2011 59 % of total revenues were to customers in the industrial and utility end-markets and 40 % of total revenues were to customers outside the United States. Cooper has manufacturing facilities in 23 countries as of 2011. FHF Group will add new and complementary products to Cooper's oil & gas and mining portfolios and will join the Cooper Safety division.
"During the transaction process we had intensive advice by BDO. All questions we had, were answered very quickly and in every detail - making it easy for us to understand risks and chances regarding the target companies. We appreciate the expertise of BDO and would like to thank for their support".
James Masacorale, Business Development Director - Cooper Safety Ltd