Emerson Agrees to Buy Aventics


Acquisition complements and strengthens Emerson's global presence in delivering fluid automation solutions

ST. LOUIS, May 17, 2018​ – Emerson (NYSE: EMR) today announced it has agreed on terms to acquire Aventics from Triton for a cash purchase price of €527 million. Aventics is among the global leaders in smart pneumatics technologies that power machine and factory automation applications. Emerson is a leader in fluid automation technologies for process and industrial applications, and Aventics significantly expands the Company's reach in this growing $13 billion market.

Aventics builds upon and strengthens Emerson's capabilities and solutions in key discrete and hybrid automation markets, including food and beverage, packaging, automotive assembly and medical equipment. Emerson's expanded offering creates one of the broadest portfolios of fluid control and pneumatic devices that incorporate sensing and monitoring capabilities to improve system uptime and performance, enhance safety and optimize energy usage. These technologies complement Emerson's extensive innovation and leadership in improving operations through digitalization, pervasive sensing and asset health monitoring.

"We will now offer the industry's widest range of fluid automation products and solutions with unmatched delivery, reliability and performance, and now with the addition of Aventics' expertise, Emerson is positioned to be the most capable global company when it comes to fluid automation technologies," said Emerson Chairman and Chief Executive Officer David N. Farr.

"This acquisition adds another strong, complementary technology portfolio into the Emerson family, creating value for our customers and more opportunities for growth," Farr added.

With central offices in Laatzen, Germany, Aventics has approximately 2,100 employees globally with five manufacturing locations and 2017 sales of $425 million.

"Aventics brings technologies, capabilities and expertise that are critical to digitalization of manufacturing, including predictive maintenance through integrated diagnostics, an important priority for our Automation Solutions business," said Mike Train, Executive President, Emerson Automation Solutions.

"With Aventics, we will gain a valuable footprint in Germany, a key market for automation technology and investment," Train added. "Aventics also brings opportunities for Emerson to better serve customers in hybrid markets like food & beverage, providing intelligent devices and solutions from processing through packaging."

The acquisition is expected to close in the fourth quarter of fiscal 2018 subject to regulatory approvals, Aventics' finalization of necessary consultations and other customary closing conditions.

Greenhill & Co., LLC served as financial advisor to Emerson and Freshfields Bruckhaus Deringer LLP served as legal advisor.

NOTE: A short slide presentation with additional information is available here.

Investor Conference Call
Please join us for a brief investor conference call to review the acquisition today at 10:30 a.m. ET, hosted by David Farr, Chairman and Chief Executive Officer, and Mark Bulanda, Senior Vice President of Planning and Development. Access to the live webcast of the discussion will be available at www.emerson.com/financial at the time of the call. A replay of the conference call will remain available for approximately three months.

About Emerson Emerson
(NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial, and residential markets. Our Emerson Automation Solutions business helps process, hybrid, and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Emerson Commercial & Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency, and create sustainable infrastructure. For more information visit www.emerson.com.

Forward-Looking and Cautionary Statements
Statements in this press release that are not strictly historical may be "forward-looking" statements, which involve risks and uncertainties, and Emerson undertakes no obligation to update any such statements to reflect later developments. These risks and uncertainties include economic and currency conditions, market demand, pricing, protection of intellectual property, competitive and technological factors, and the impact of the Tax Cuts and Jobs Act, among others, as set forth in the Company's most recent Annual Report on Form 10-K and subsequent reports filed with the SEC.