
- Order:
- Duration: 0:09
- Published: 31 Dec 2010
- Uploaded: 05 Jul 2011
- Author: edwardchandler
In 1983, ex-Lord Hanson employee Greg Hutchings bought a 22.9% stake, and then went on to be Chief Executive. Hutchings expanded Tomkins in a classical conglomerate form through leveraged buyouts, so that in the 1980s and early 1990s the company embarked on a succession of acquisitions, which rapidly grew the revenue, product range and global reach. Major acquisitions included Smith & Wesson in 1987, RHM in 1992, the US-based Gates Corporation in 1996, which signalled a move into the industrial and automotive markets, and the Stant and Schrader businesses that further bolstered this division. During this era, Tomkins was regarded as the archetypal multi-industrial conglomerate, with a portfolio of assets that had little or nothing in common with one another - and indeed the media delighted in referring to Tomkins as the 'buns-to-guns' company because of its ownership of RHM (baking) and Smith & Wesson (firearms).
Hutchings was forced to resign from the Company in 2000, over a series of allegations of executive excess. Tomkins sold RHM shortly thereafter, and Smith & Wesson the following year.
Category:Conglomerate companies of the United Kingdom Category:Engineering companies of the United Kingdom Category:Companies based in London Category:Companies formerly listed on the London Stock Exchange Category:Companies listed on the New York Stock Exchange Category:Companies established in 1925
This text is licensed under the Creative Commons CC-BY-SA License. This text was originally published on Wikipedia and was developed by the Wikipedia community.