M&A International Inc. in Action

Fedders Corporation Acquisition of Polenz GmbH, a subsidiary of Senior PLC

Fedders Corporation has acquired Polenz GmbH, a Subsidiary of Senior PLC. TM Capital was retained by Fedders and advised the company on its acquisition of the German business Polenz. Angermann worked closely with both TM Capital and Cavendish (as the owner of Polenz was the UK company Senior PLC) to close the acquisition.

Fedders Corporation (NYSE: FJC) is a leading global manufacturer of air treatment products including air conditioners, air cleaners, dehumidifiers and humidifiers and thermal technology products.

Through its involvement in M&A International, TM Capital became aware of an opportunity for Fedders to purchase Polenz GmbH, the premier air treatment products distributor in Germany.

Polenz had annual sales of $26.6 million in 2000 and is an independent distributor of a broad line of heating, ventilating and air conditioning products.

The acquisition enabled Fedders to expand the sales of its commercial and industrial products throughout Germany.