Tomkins plc

Last updated

Tomkins plc
Type Public limited company
HeadquartersLondon, United Kingdom
Key people
David Newlands (chairman)
James Nicol (CEO)
Michael C. Winn (President)) [1] [2] [3]
RevenueUS$4,180.1 million (2009) [4]
US$84.7 million (2009) [4]
US$(15.6) million (2009) [4]
Owner Onex and the Canada Pension Plan Investment Board
Number of employees
circa 30,000 [4]

Tomkins plc was a multinational engineering company headquartered in London, United Kingdom. In July 2010 Tomkins was acquired by a Canadian consortium of private equity firm Onex Corporation and the Canada Pension Plan Investment Board. In July 2014, The Blackstone Group, the world's largest buyout firm, agreed to acquire The Gates Corporation, the largest division of Tomkins plc from Onex Corp. (OCX) and Canada Pension Plan Investment Board for $5.4 billion. [5]



Tomkins was founded in 1925 as F.H. Tomkins Buckle Company, a small manufacturer of buckles and fasteners. [6] It was first listed on the London Stock Exchange in 1956.

In 1983, ex-Lord Hanson employee Greg Hutchings acquired a 22.9% stake in the company, and subsequently was appointed Chief executive. [7] Hutchings expanded Tomkins in a classical conglomerate form through leveraged buyouts, and during the 1980s and early 1990s the company embarked on a succession of acquisitions which rapidly grew its revenue, product range and global reach. Major acquisitions included Smith & Wesson in 1987, [8] RHM in 1992, [9] the US-based Gates Corporation in 1996, [10] which signalled a move into the industrial and automotive markets, and the Stant [11] and Schrader [12] businesses that further bolstered this division. During this era, Tomkins was regarded as the archetypal multi-industrial conglomerate, with a portfolio of assets that had little or nothing in common with one another – and indeed the media delighted in referring to Tomkins as the "buns-to-guns" company [13] because of its ownership of RHM (baking) and Smith & Wesson (firearms).

Hutchings was forced to resign from the company in 2000, over a series of false allegations of executive excess. [7] Tomkins sold RHM shortly thereafter, [9] and Smith & Wesson the following year. [8]

After an unsolicited approach, in July 2010 Tomkins was acquired by a Canadian consortium of private equity firm Onex Corporation and the Canada Pension Plan Investment Board for £2.9 billion. [14]

In November 2012, Tomkins sold their portion of the Building Products group that included: Hart and Cooley, Selkirk and Ruskin to the CPPIB. [15]

Related Research Articles


Sitel is a privately owned contact center company headquartered in Miami, Florida. It provides outsourced sales, technical support, customer service, and other business processes for large companies. The company has 75,000 employees and $1.7 billion in revenue.

KKR & Co. Inc. is an American global investment company that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strategic partners, hedge funds. The firm has completed more than 280 private equity investments in portfolio companies with approximately $545 billion of total enterprise value as of June 30, 2017. As of September 30, 2017, Assets Under Management ("AUM") and Fee Paying Assets Under Management ("FPAUM") were $153 billion and $114 billion, respectively.

FTSE 100 Index Share index of the London Stock Exchange

The Financial Times Stock Exchange 100 Index, also called the FTSE 100 Index, FTSE 100, FTSE, or, informally, the "Footsie", is a share index of the 100 companies listed on the London Stock Exchange with the highest market capitalisation. It is seen as a gauge of prosperity for businesses regulated by UK company law. The index is maintained by the FTSE Group, a subsidiary of the London Stock Exchange Group.

The Blackstone Group American asset management company

The Blackstone Group Inc. is an American alternative investment management company based in New York City. In 2019, Blackstone converted from being a publicly traded partnership into being a corporation.

TPG Capital

TPG Capital, previously known as Texas Pacific Group, is an American investment company. The private equity firm is focused on leveraged buyouts and growth capital. TPG manages investment funds in growth capital, venture capital, public equity, and debt investments. The firm invests in a range of industries including consumer/retail, media and telecommunications, industrials, technology, travel, leisure, and health care.

Bain Capital is an American private investment firm based in Boston, Massachusetts. It specializes in private equity, venture capital, credit, public equity, impact investing, life sciences, and real estate. Bain Capital invests across a range of industry sectors and geographic regions. As of 2018, the firm managed more than $105 billion of investor capital.

Onex Corporation is an investment manager founded in 1984. The firm manages capital on behalf of Onex shareholders, institutional investors and high net worth clients around the world. As of September 30, 2020, Onex had approximately US$36.6 billion of assets under management. It invests and manages capital through four platforms: Onex Partners ; ONCAP ; Onex Credit ; and Gluskin Sheff. Onex and its management teams are collectively the largest investors across Onex' investment platforms.

Apax Partners

Apax Partners LLP is a British private equity firm, headquartered in London, England. The company also operates out of six other offices in New York, Hong Kong, Mumbai, Tel Aviv, Munich and Shanghai. As of December 2017, the firm, including its various predecessors, have raised approximately $51 billion (USD) since 1981. Apax Partners is one of the oldest and largest private equity firms operating on an international basis, ranked the fourteenth largest private equity firm globally.

Rank Hovis McDougall

RHM plc, formerly Ranks Hovis McDougall, was a United Kingdom food business. The company owned numerous brands, particularly for flour, where its core business started, and for consumer food products. It was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index but was acquired by Premier Foods in March 2007.

Cinven is a global private equity firm founded in 1977, with offices in nine international locations in Guernsey, London, New York, Paris, Frankfurt, Milan, Luxembourg, Madrid, and Hong Kong that acquires Europe and United States based corporations, and emerging market firms that fit with their core businesses, and necessitate a minimum equity investment of €100 million or more. In 2015, it had €10.6 billion in assets under management.

CVC Capital Partners British private equity and investment advisory firm

CVC Capital Partners is a private equity and investment advisory firm with approximately US$111 billion in secured commitments since inception across European and Asian private equity, credit and growth funds. As of 2019, CVC managed US$75 billion of assets, the funds managed or advised by CVC are invested in 73 companies worldwide, employing over 300,000 people in numerous countries. Since 1981, CVC has completed over 500,000 investments across a wide range of industries and countries. CVC was founded in 1981 and today has over 400 employees working across its network of 24 offices throughout Europe, Asia and the Americas.

Husky Injection Molding Systems Ltd. is a supplier of machinery for injection molding of plastics. The company was founded in 1953 by Robert Schad, a German immigrant to Canada. Husky was initially a small machine shop with no ties to the plastics industry.

Gates Corporation

Gates Corporation, based in Denver, Colorado, is a manufacturer of power transmission belts and fluid power products, which are used in diverse industrial and automotive applications. The company employs over 14,000 and has sales and manufacturing operations in North and South America, Europe, Asia, Australia, and the Middle East.

The Canada Pension Plan Investment Board, operating as CPP Investments, is a Canadian Crown corporation established by way of the 1997 Canada Pension Plan Investment Board Act to oversee and invest the funds contributed to and held by the Canada Pension Plan (CPP).

Hellman & Friedman LLC (H&F) is an American private equity firm, founded in 1984 by Warren Hellman and Tully Friedman, that makes investments primarily through leveraged buyouts as well as growth capital investments. H&F has focused its efforts on several core target industries including media, financial services, professional services and information services. The firm tends to avoid asset intensive or other industrial businesses. H&F is based in San Francisco, with offices in New York and London.

History of private equity and venture capital

The history of private equity and venture capital and the development of these asset classes has occurred through a series of boom-and-bust cycles since the middle of the 20th century. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital experienced growth along parallel, although interrelated tracks.

PAI Partners

PAI Partners is a European private equity firm based in Paris, France. It is one of the oldest firms in the sector with its origins dating back to Paribas Affaires Industrielles, the historical principal investment activity of Paribas, which started operations in 1872.

Private equity in the 2000s

Private equity in the 2000s represents one of the major growth periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital expanded along parallel and interrelated tracks.

MidOcean Partners is an American private equity firm specializing in leveraged buyouts, recapitalizations and growth capital investments in middle-market companies. The firm has historically focused on investments in middle market companies in four core industries including business services; consumer and leisure companies, media and niche industrial services.


Informatica is a software development company founded in 1993. It is headquartered in Redwood City, California. Its core products include Enterprise Cloud Data Management and Data Integration. It was co-founded by Gaurav Dhillon and Diaz Nesamoney. Amit Walia is the company's CEO.


  1. "Mike Winn has been named president of Hart & Cooley Inc", SNIPS Magazine . 6 Sept. 2011, Retrieved 18 Sept. 2012.
  2. "GRAND RAPIDS, Mich.— Hart & Cooley, Inc. appointed Mike Winn as the company’s new president.", ROOFING CONTRACTOR . October 14, 2011,
  3. "Hart & Cooley President Michael Winn further explained the recent changes.", BE Building Enclosure . April 16, 2013,
  4. 1 2 3 4 "Annual Report 2009" (PDF). Tomkins plc. Retrieved 26 September 2010.
  5. Banerjee, Devin (4 April 2014). "Blackstone Agrees to Buy Gates Global in $5.4 Billion LBO". Bloomberg.
  6. Tomkins: History
  7. 1 2 Hutchings forced to quit
  8. 1 2 Smith & Wesson is sold to maker of Trigger Locks
  9. 1 2 Tomkins sells RHM for £1.1bn
  10. Tomkins agrees to buy Gates Rubber
  11. Tomkins to buy Stant
  12. Deal for equipment maker
  13. Tomkins loses buns-to-guns tag with sale of RHM to Doughty Hanson
  14. "Tomkins agrees to £2.9bn takeover deal". BBC News. 27 July 2010. Retrieved 27 July 2010.
  15. "CPPIB and Onex Announce Completion of Agreement Involving Tomkins' Air Distribution Division" (PDF). Retrieved 29 November 2012.