David Brown sold in billion dollar deal

Nov 18 2008 by Henryk Zientek, Huddersfield Daily Examiner

HUDDERSFIELD engineering firm David Brown has been sold in a deal worth hundreds of millions of pounds.

The Lockwood-based manufacturer is back in British hands after its take-over by Scottish-based Clyde Blowers from US conglomerate Textron.

David Brown Gear Systems, which employs 380 people at its main Park Works site and more than 1,100 at nine manufacturing sites across the world, said the deal – worth hundreds of millions of pounds – would bring fresh investment from the new owners.

General manager Ian Farquhar said: “This is great news for David Brown. There is a mood of optimism within the company that with Clyde’s support and investment we have a bright future.”

David Brown has changed hands as part of a billion dollar deal which sees Clyde Blowers buy four separate Textron businesses.

Along with David Brown Gear Systems, Clyde Blowers has bought US-based Union Pumps, which has a site at Penistone; David Brown Hydraulics, based in Poole, Dorset; and Maag Pumps, based in Switzerland. Together, they employ more than 2,230 people.