Cooper Industries acquires Wheelock, Inc
Cooper Industries, Ltd. announced the acquisition of Wheelock, Inc., a designer and manufacturer of fire safety and emergency incident communications systems and devices.Based in Long Branch, N.J., Wheelock is a privately held company with 2005 annual revenues of approximately $46 million.Financial terms were not disclosed.
Wheelock manufactures a comprehensive fire notification product line that includes electronic strobe horns, mini-horns, strobes, speakers and speaker strobes, and power supplies.The company also manufactures communication systems that combine background music, messaging, and emergency voice evacuation and telephone zone paging for military bases, retail establishments, factory and warehouse operations, and campus environments.
Wheelock becomes part of Cooper Menvier, which is based in the United Kingdom.With the acquisition, Cooper Menvier gains complementary capabilities to enhance its core product offerings in fire safety and security detectors, panels and signaling devices, including strobes, sounders, call points and bells.Additionally, Wheelock provides Cooper Menvier with UL-approved products.
“With its strong history of innovation, Wheelock provides a strategic extension to our European portfolio with products specifically designed and manufactured for the U.S. market,” said Cooper Industries Chairman and Chief Executive Officer Kirk S. Hachigian.
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Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey