Rockwell Automation (ROK)

[Investorman]

Rockwell Automation to Acquire Rutter Hinz, a Leading Engineering Company
Tuesday February 10, 5:00 pm ET

Acquisition will accelerate company growth and expand reach in Canadian oil and gas and heavy industries market


MILWAUKEE--(BUSINESS WIRE)--Rockwell Automation, Inc. (NYSE: ROK - News) today announced it has agreed to purchase the majority of the assets of Rutter Hinz Inc., a leading engineering company. Rutter Hinz is a wholly owned subsidiary of Rutter Inc., a publicly held Canadian company. Headquartered in Saskatoon, Canada, Rutter Hinz’s annual sales are approximately $35 million (U.S.). Terms of the transaction were not disclosed.
Rutter Hinz has engineering expertise in industrial automation, process control and power distribution, specifically for the oil and gas industry, in addition to the pipeline, utility, mining, forestry and food and beverage sectors. The company’s management team and approximately 220 employees will join Rockwell Automation’s Systems & Solutions business unit.

“This acquisition accelerates the growth of Rockwell Automation’s business and reach in Canada’s heavy industries and oil and gas market, enhances our Canadian oil sands opportunities, and establishes a robust delivery capability in a major market with critical expertise,” said Terry Gebert, vice president and general manager, Rockwell Automation Systems & Solutions.

“Rutter Hinz customers will continue to receive the high level of service they currently enjoy,” said Ryan Hinz, Rutter Inc. president and CEO.

“This acquisition continues to strengthen our global project management and engineering solutions delivery capability – as we have done with ProsCon and ICS Triplex acquisitions in Europe, CIE in Latin America, and Xi'An Hengsheng in China,” Gebert added. “Customers will now benefit from the expanded portfolio of application solutions, expertise and delivery capacity that Rutter Hinz offers, particularly to the oil and gas market.”

The acquisition includes Rutter Hinz’s engineering and automation businesses in Canada and the United States, but not its Newfoundland consulting engineering business or the assets of Rutter Technologies Inc. These operations will continue as part of Rutter Inc.

Rutter Hinz has eight offices in Canada and two in the U.S.

The acquisition is expected to close during the current quarter.