Tomkins plc

Tomkins plc

Company type	Public (until 2010)
Industry	Engineering, Manufacturing, Conglomerate
Founded	1925 (1925)
Founder	F.H. Tomkins Buckle Company
Defunct	July 2010 (2010-07)
Fate	Acquired by Onex Corporation and Canada Pension Plan Investment Board
Headquarters	London , United Kingdom
Area served	Worldwide
Key people	Greg Hutchings (former Chief Executive)
Products	Buckles, Fasteners, Industrial and automotive products (including Gates Corporation), Baking products (RHM), Firearms (Smith & Wesson)
Parent	Onex Corporation and Canada Pension Plan Investment Board (from 2010)

Tomkins plc was a London-based multinational engineering firm. In July 2010, ownership of Tomkins transferred to a Canadian partnership comprising the private equity company Onex Corporation and the Canada Pension Plan Investment Board. Later, in July 2014, The Blackstone Group, recognized as the largest buyout firm globally, reached an agreement to purchase The Gates Corporation—Tomkins' principal division—from Onex and CPPIB for $5.4 billion.

History

Established in 1925 under the name F.H. Tomkins Buckle Company as a modest manufacturer of buckles and fasteners, Tomkins made its initial public offering on the London Stock Exchange in 1956.

In 1983, Greg Hutchings acquired a 22.9% ownership stake and assumed the role of Chief Executive. Throughout the 1980s and early 1990s, he propelled Tomkins' expansion by executing leveraged buyouts and strategic acquisitions, which substantially increased the company's revenue streams, diversified its product portfolio, and broadened its international footprint. Noteworthy acquisitions during this era included Smith & Wesson (1987), RHM (1992), the American firm Gates Corporation (1996), along with Stant and Schrader businesses that enhanced Tomkins’ industrial and automotive segments. During this time, Tomkins functioned as a typical multi-industry conglomerate with a wide range of assets, earning the moniker "buns-to-guns" due to its ownership of both RHM (a baking company) and Smith & Wesson (a firearms manufacturer).

Hutchings stepped down in 2000 following accusations concerning executive misconduct. Subsequently, by 2001, Tomkins had divested itself of RHM and Smith & Wesson.

Following an unsolicited bid, Tomkins was acquired in July 2010 by Onex Corporation together with the Canada Pension Plan Investment Board for £2.9 billion.

In November 2012, Tomkins completed the sale of its Building Products division—which included Hart and Cooley, Selkirk, and Ruskin—to CPPIB.