Cooper Industries and Danaher Corporation Agree to Sell Apex Tool Group to Bain Capital for $1.6B

Cooper Industries CBE and Danaher Corporation DHR announced today that they have signed a definitive agreement to sell Apex Tool Group to Bain Capital for approximately $1.6 billion subject to post-closing adjustments.  Currently, Cooper and Danaher each maintain a 50% joint venture ownership interest in Apex.  (Logo:  http://photos.prnewswire.com/prnh/20101214/MM17721LOGO) The closing of the definitive agreement is subject to customary conditions, including regulatory approvals.  The parties currently expect that the transaction will close in the first half of 2013. Goldman Sachs GS served as the exclusive financial advisor to Apex Tool Group. About Cooper IndustriesCooper Industries plc CBE is a global electrical products manufacturer with 2011 revenues of $5.4 billion.  Founded in 1833 Cooper's sustained success is attributable to a constant focus on innovation and evolving business practices, while maintaining the highest ethical standards and meeting customer needs.  The Company has seven operating divisions with leading market positions and world-class products and brands, including Bussmann electrical and electronic fuses; Crouse-Hinds and CEAG explosion-proof electrical equipment; Halo and Metalux lighting fixtures; and Kyle and McGraw-Edison power systems products.  With this broad range of products, Cooper is uniquely positioned for several long-term growth trends including the global See full press release