ITW Mergers and Acquisitions Summary

Manufacturing Company

ITW has acquired 52 companies, including 1 in the last 5 years. A total of 18 acquisitions came from private equity firms. It has also divested 12 assets.

ITW’s largest acquisition to date was in 2008, when it acquired Quipp for $8.5B. It’s largest disclosed sale occurred in 2015, when it sold Signode Industrial Group to for $3.2B. ITW has acquired in 15 different US states, and 11 countries. The Company’s most targeted sectors include machinery (21%) and manufacturing (15%).

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M&A Summary

  • M&A Total Activity59
    • M&A Buy Activity48
    • M&A Sell Activity12
  • Total Sectors Invested 15
  • Total Countries Invested 11
  • M&A Buy/Sell Connections 31
  • M&A Advisors 2

Illinois Tool Works, Inc. (ITW)

155 Harlem Avenue,
Glenview, Illinois 60025
United States,
(847) 724-7500
www.itw.com

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.


M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (0.0/yr) # 48 - - - - - 48
vol $9.7B $9.7B
Sell (0.4/yr) # 10 - - 2 - - 12
vol $4.3B $68M $4.3B
  60

Most Recent M&A

Company Date Value Type
Kester, Inc. 2019-12-03 68M USD Divestiture
Itasca, Illinois · www.kester.com
ITW Insulation Systems, Inc. 2019-11-21 - Divestiture
Houston, Texas · www.itwinsulation.com
ZF TRW - Engineered Fasteners and Components business (EF&C) 2016-01-25 450M USD Divestiture
, Germany
Signode Industrial Group, Inc. 2015-05-01 3.2B USD Divestiture
Glenview, Illinois · www.signode.com
CCI Corp. 2013-08-08 - Divestiture
Tulsa, Oklahoma
Vesta Catering Equipment Co., Ltd 2013-07-03 - Add-on Acquisition
Guangzhou, China · www.vesta-china.com
Illinois Tool Works - Forkardt Operations 2013-05-09 34M USD Divestiture
, Germany
Coeur, Inc. 2012-10-09 - Add-on Acquisition
Lebanon, Tennessee · www.coeurinc.com
Wilsonart LLC 2012-08-16 395M USD Divestiture
Temple, Texas · www.wilsonart.com
Brooks Instrument LLC 2012-01-08 - Add-on Acquisition
Hatfield, Pennsylvania · www.brooksinstrument.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
PBT Brands, Inc. 2004-12-31 Accessories Marketing, Inc. (dba Slime) 2010-04-01 1
Hartford, Connecticut · www.permatex.com San Luis Obispo, California · www.slime.com

M&A by Sector

Sector Buy # Value Sell # Value
Machinery 10 (21%) 8.5B (87%) 2 (17%) 684M (16%)
Manufacturing 7 (15%) 55M (1%) 1 (8%) -
Building Materials 4 (9%) - 2 (17%) 395M (9%)
Chemicals 5 (11%) 90M (1%) - -
Packaging 3 (6%) 550M (6%) 1 (8%) 3.2B (74%)
Test/Measurement Equipment 3 (6%) - 1 (8%) -
Electrical Equipment 2 (4%) 89M (1%) 2 (17%) 68M (2%)
Electronics 3 (6%) - - -
Automotive 2 (4%) 450M (5%) 1 (8%) -
Medical Products 2 (4%) - - -
Software 2 (4%) - - -
Information Technology 1 (2%) - 1 (8%) -
Plastics 1 (2%) - 1 (8%) -
Business Services 1 (2%) - - -
Distribution 1 (2%) - - -
Total 47 $9.7B 12 $4.3B

By Geo

State/Country Buy Value Sell Value
United States 31 9.3B 10 4.3B
  Illinois 4 729M 3 3.3B
  Massachusetts 4 55M 1 -
  Ohio 4 - - -
  Minnesota 3 - 1 650M
  Texas 2 - 2 395M
  South Carolina 2 - - -
  Pennsylvania 2 - - -
  Connecticut 2 - - -
  California 2 - - -
  Oregon 1 - 1 -
  Tennessee 1 - - -
  Missouri 1 - - -
  Georgia 1 - - -
  Florida 1 8.5B - -
  Oklahoma - - 1 -
  Kentucky - - 1 -
Germany 3 450M 1 34M
Canada 2 - 1 -
  Ontario 2 - 1 -
United Kingdom 3 - - -
China 2 - - -
France 2 - - -
Denmark 1 - - -
Netherlands 1 - - -
South Africa 1 - - -
Spain 1 - - -
Switzerland 1 - - -
Domestic 31 (65%) 9.3B (95%) 10 (83%) 4.3B (99%)
Cross-border 17 (35%) 450M (5%) 2 (17%) 34M (1%)
Total 48 $9.7B 12 $4.3B

Top M&A Advisors

Financial Deals
Robert W. Baird & Co., Inc.
1
Legal Deals
Mayer Brown
1

Deal Values

buy # Total
> $1B 1 $8.5B
$100M to $1B 2 $1.0B
< $100M 3 $234M
TOTAL $9.7B
Largest Quipp, Inc.
$8.5B (2008-03-27)
sell # Total
> $1B 1 $3.2B
$100M to $1B 2 $1.0B
< $100M 2 $102M
TOTAL $4.3B
Largest Signode Industrial Group, Inc.
$3.2B (2015-05-01)

M&A Connections

Deals
Acquired from
Investor(s)
29%
14 (29%)
Strategic(s)
10%
5 (10%)
Divested to
Investor(s)
33%
4 (33%)
Strategic(s)
58%
7 (58%)

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