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Danaher Controls history
Danaher Controls company history timeline
1980 New holding company is formed under DMG name.
Danaher was established in 1984 and initially consisted of a group of discrete, manufacturing businesses.
The company achieved the status of a Fortune 500 company barely two years after the Rales brothers took over in 1984.
Until 1984 all operations of DMG had been in real estate, but that year the holding company underwent a major transformation when it acquired two new subsidiaries.
Danaher was reorganized as a Delaware corporation in 1986.
In 1986, Danaher bought Chicago Pneumatic who had recently merged with the Jacobs Manufacturing Company and bought Matco Tools Corporation.
During 1989 Danaher reassessed and restructured.
1989 Four business units are cut to three; Easco Hand Tools is acquired.
"Danaher: Riding the Rales; The Rales Brothers Build Their Dream Conglomerate," Financial World, September 18, 1990.
Danaher was already marketing the Jacob Engine Brake diesel engine retarders in Japan, and, in 1991, Danaher acquired Normond/CMS, the leading manufacturer and marketer in Great Britain of environmental products.
In 1993, they formed NMTC Inc., and acquired a significant part of the MTC assets.
With the worst of the recession over by 1993, Danaher’s fortunes seemed secure.
German industrial timer manufacturer Hengstler GmbH was one of a half-dozen controls businesses acquired in 1994.
Joslyn Corporation, a venerable Chicago maker of switches and controls, was acquired in 1995 for roughly $250 million.
1998 Fluke Corp. is acquired for $625 million.
Still Growing by Acquisition After 2000
Under the presidency of George Sherman, Danaher's international sales were rising significantly, to just over 10 percent of total sales, and market analysts predict that the percentage will double by the year 2000.
COO Lawrence Culp was promoted to president and CEO in 2001.
In October 2002, Thomson Industries Inc., a leading United States manufacturer of linear motion control products, was obtained for $147 million.
Danaher spent $312 million in 2003 to acquire a dozen smaller businesses.
2003 Revenues exceed $5 billion.
International sales accounted for more than a third of the company's 2004 revenues of $6.9 billion.
Dubovoj, Sina; Ingram, Frederick "Danaher Corporation ." International Directory of Company Histories. . Retrieved June 21, 2022 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/danaher-corporation
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