M&A Deal Summary

Hardinge Acquires Illinois Tool Works - Forkardt Operations

On May 9, 2013, Hardinge acquired machinery company Illinois Tool Works - Forkardt Operations from ITW for 34M USD

Acquisition Highlights
  • This is Hardinge’s 3rd transaction in the Machinery sector.
  • This is Hardinge’s largest (disclosed) transaction.
  • This is Hardinge’s 1st transaction in Germany.

M&A Deal Summary
Date 2013-05-09
Target Illinois Tool Works - Forkardt Operations
Sector Machinery
Buyer(s) Hardinge
Sellers(s) ITW
Deal Type Divestiture
Deal Value 34M USD

Target

Illinois Tool Works - Forkardt Operations

Germany
Illinois Tool Works - Forkardt Operations is a providers of high-precision, specialty and customized workholding devices for machine tools.

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Buyer(S) 1

Buyer

Hardinge

Elmira, New York, United States
Category Company
Founded 1890
Sector Machinery
Employees1,496
Revenue 315M USD (2015)
DESCRIPTION

Hardinge is a global provider of high precision, computer-controlled machine tool solutions for critical, hard-to-machine metal parts and advanced workholding accessories. Hardinge offers a variety of metal cutting turning machines, grinding machines, machining centers, collets, chucks, index fixtures, repair parts, standard and specialty workholding devices, and other machine tool accessories to provide a full solution for your business needs. Hardinge’s solutions can be found in a broad base of industries including aerospace, agricultural, automotive, construction, consumer products, defense, energy, medical, technology and transportation. Hardinge is based in Berwyn, Pennsylvania.

DEAL STATS #
Overall 3 of 6
Sector (Machinery) 3 of 5
Type (Divestiture) 1 of 2
Country (Germany) 1 of 3
Year (2013) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-27 Hardinge Taiwan Precision Machinery

Nan Tou City, Taiwan

Hardinge Taiwan Precision Machinery Ltd. is a designer and manufacturer of precision computer controlled metal-cutting turning, grinding and milling machines, and related accessories.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-09 Peter Wolters - Voumard Internal Diameter

Germany

Peter Wolters - Voumard Internal Diameter is a provider of ID grinding market with an installed base of over 9,000 machine solutions serving more than 2,500 customers around the world.

Buy -

Seller(S) 1

SELLER

ITW

Glenview, Illinois, United States
Category Company
Founded 1912
Sector Manufacturing
Employees45,000
Revenue 16.1B USD (2023)
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 STATS #
Overall 8 of 14
Sector (Machinery) 2 of 2
Type (Divestiture) 8 of 13
Country (Germany) 1 of 1
Year (2013) 1 of 2
Size (of disclosed) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-09 Coeur

Lebanon, Tennessee, United States

Coeur, Inc. is a designer and manufacturer of proprietary disposable medical products used primarily in imaging labs during diagnostic and therapeutic imaging procedures, such as angiography, computed tomography (“CT”) and magnetic resonance imaging (“MRI”).

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-03 Vesta Catering Equipment

Guangzhou, China

Vesta Catering Equipment Co., Ltd is the designer and maker of Western style mid-range commercial kitchen equipment in China.

Buy -
Mergr

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