Add-on Acquisition • Electronics

ITW Acquires Speedline Technologies

On November 8, 2006, ITW acquired electronics company Speedline Technologies from KPS Capital Partners

Acquisition Context
  • This is ITW’s 1st transaction in the Electronics sector.
  • This is ITW’s 16th transaction in the United States.
  • This is ITW’s 3rd transaction in Massachusetts.

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M&A Deal Summary

Date November 8, 2006
Target Speedline Technologies
Sector Electronics
Buyer(s) ITW
Sellers(s) KPS Capital Partners
Deal Type Add-on Acquisition

Target Company

Speedline Technologies

Franklin, Massachusetts, United States
Speedline Technologies, Inc., is a producer of manufacturing equipment and services for the printed circuit board and semiconductor packaging industries. Speedline's four core product lines - MPM®, Electrovert®, Accel®, and Camalot® - and its Protect services together provide a comprehensive product and service line for customers’ Surface Mount Technology (SMT) and Semiconductor Packaging requirements. Speedline has the largest installed base in the SMT industry, and its clients include many of the world's blue-chip electronics companies.
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Buyer Overview 1

Buyer

ITW

Glenview, Illinois, United States

Category Company
Founded 1912
Sector Manufacturing
Employees44,000
Revenue 15.9B USD (2024)
DESCRIPTION
Entrance to Illinois Tool Works' corporate headquarters in Glenview, Illinois.
Entrance to Illinois Tool Works' corporate headquarters in Glenview, Illinois.

ITW is a manufacturer of a range of value-adding and short lead-time industrial products and equipment. ITW was founded in 1912 and is based in Glenview, Illinois.


Deal Context for Buyer #
Overall 18 of 48
Sector: Electronics 1 of 3
Type: Add-on Acquisition 17 of 41
State: Massachusetts 3 of 4
Country: United States 16 of 31
Year: 2006 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-31 Franklynn Industries

Loveland, Ohio, United States

Franklynn Industries, Inc. is a manufacturer and marketer of water based specialty functional coatings.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-05 Polyrey SAS

Baneuil, France

Polyrey is a manufacturer of decorative surfaces such as laminate sheets, boards and engineered components.

Buy -

Seller Profile 1

SELLER

KPS Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1991
PE ASSETS 21.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

KPS Capital Partners is a private investment firm that targets special situations including turnarounds, restructurings, bankruptcies, and corporate divestitures. KPS' target investment size is $200 million to $2 billion in businesses with minimum revenues of $250 million. The Firm has specific interest in companies engaged in the manufacturing, transportation, and service industries. KPS will not consider investments in high technology, financial services, telecommunications, broadcast media, real estate and natural resources. The Firm's geographic coverage spans the US, Canada, and Europe. KPS Capital Partners was formed in 1991 and is based in New York, New York.


Deal Context for Seller #
Overall 6 of 36
Sector: Electronics 1 of 1
Type: Add-on Acquisition 3 of 20
State: Massachusetts 1 of 1
Country: United States 5 of 29
Year: 2006 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-01 AmeriCast Technologies

Atchison, Kansas, United States

AmeriCast Technologies is a designer, manufacturer and supplier of high-engineered steel and iron castings and machined components for customers such as Caterpillar, General Electric and Electro-Motive.

Sell $110M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-09 WireCo WorldGroup

Prairie Village, Kansas, United States

WireCo WorldGroup is a global manufacturer of mission-critical steel wire rope, synthetic rope, specialty wire and engineered products. WireCo’s multiple market major premium, global brands are recognized throughout the world for their quality and reliability. Its products are used in a disparate range of applications in the industrial, onshore and offshore oil and gas, mining, fishing and maritime end-markets. The company operates 24 manufacturing facilities in eight countries and employs approximately 4,000 people. WireCo WorldGroup was founded in 1931 and is based in Prairie Village, Kansas.

Sell -