United States. A group of Tecumseh representatives confirmed that the company had reached a definitive merger agreement with Mueller Industries. The value of this negotiation is estimated to have been US$123 million.
The transaction, which is expected to be completed by the end of 2015, will reunite Tecumseh with new owners. The third tip of the agreement is Atlas Holdings, which will contribute its expertise in marketing and operational functions, and will contribute capital.
As part of the agreement, Tecumseh will remain an independent business and will continue to operate its global technology bases throughout North America, South America, Europe and Asia.
Tecumseh's experience with hydrocarbon cooling equipment will add a different arm to Mueller's specialization in manufacturing copper tubes, fittings, valves and protective devices for high-pressure applications, such as R744.
