M&A Deal Summary

ITT Acquires AXTONE Sp. z o.o.

On November 4, 2016, ITT acquired machinery company AXTONE Sp. z o.o. from IK Partners and Syntaxis Capital for 118M USD

Acquisition Highlights
  • This is ITT’s 9th transaction in the Machinery sector.
  • This is ITT’s 9th largest (disclosed) transaction.
  • This is ITT’s 1st transaction in Poland.

M&A Deal Summary
Date 2016-11-04
Target AXTONE Sp. z o.o.
Sector Machinery
Buyer(s) ITT
Sellers(s) IK Partners
Syntaxis Capital
Deal Type Add-on Acquisition
Deal Value 118M USD

Target

AXTONE Sp. z o.o.

Kanczuga, Poland
AXTONE Sp. z o.o. is a manufacturer of buffers and draw-gear devices for all types of rail vehicles.

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Buyer(S) 1

Buyer

ITT

Stamford, Connecticut, United States
Category Company
Founded 1920
Sector Machinery
Employees10,600
Revenue 3.3B USD (2023)
DESCRIPTION

ITT is a manufacturer of engineered critical components and customized technology solutions for growing industrial end-markets in energy infrastructure, electronics, aerospace, and transportation. ITT was founded in 1920 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 29 of 37
Sector (Machinery) 9 of 11
Type (Add-on Acquisition) 17 of 21
Country (Poland) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 9 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-05 Wolverine Advanced Materials

Dearborn, Michigan, United States

Wolverine Advanced Materials LLC is a manufacturer of highly engineered critical automotive components and customized technology solutions for the energy, transportation and industrial markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-22 Rheinhütte Pumpen

Wiesbaden, Germany

Rheinhütte Pumpen GmbH is a designer and manufacturer of centrifugal and axial flow pumps. Rheinhütte Pumpen is based in Wiesbaden, Germany.

Buy -

Seller(S) 2

SELLER

IK Partners

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 14.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Ik Investment Partners Ltd. (Formerly Industri Kapital) is a private equity firm that targets control investments in mid-sized manufacturing and service companies located in select European countries. IK focuses on growth businesses located in the Benelux region, as well as Denmark, Finland, France, Germany, Norway and Sweden. The firm looks to commit €50 to €150 million of equity capital per transaction and targets companies with 'a proven ability to generate significant cash flow' as well as an ability to 'sustain growth through various economic cycles'. IK Investment Partners was formerly known as Industry Kapital. IK Investment Partners was formed in 1989 and has offices in Hamburg, London, Paris, and Stockholm.

DEAL STATS #
Overall 72 of 119
Sector (Machinery) 7 of 11
Type (Add-on Acquisition) 28 of 42
Country (Poland) 2 of 2
Year (2016) 4 of 4
Size (of disclosed) 18 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-01 Alanta Health Group

Hamburg, Germany

Alanta Health Group is a healthcare company offering pharmaceutical manufacturing for patient-specific infusion solutions, drug and medical device distribution, outpatient and inpatient care and medical studies. Alanta Health Group is based in Hamburg, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-09 Schock

Regen, Germany

Schock is a manufacturing technology commonly used in the production of quartz composite sinks. The combination of quartz with top-quality acrylic forms a premium compound product that is three times as hard as natural granite and is also superior in terms of many product characteristics to kitchen sinks made from other materials. The Schock range of products comprises sinks for every conceivable kitchen style and taste. Schock was formed in 1924 and is based in Regen, Germany.

Buy -
SELLER

Syntaxis Capital

Vienna, Austria

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2006
PE ASSETS 250M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Syntaxis Capital is a private debt investor dedicated to providing long term capital to fast-growing medium-sized companies in Central Europe. It looks to invests in companies with an enterprise value of €50 - €300 million. Types of transactions include buyouts, growth capital, and consolidations. Syntaxis Capital was formed in 2006 and is based in Vienna, Austria with additional office in Warsaw, Guernsey.

DEAL STATS #
Overall 7 of 10
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 7 of 7
Country (Poland) 5 of 7
Year (2016) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-01 Trans Polonia

Tczew, Poland

Trans Polonia is a specialist transport and logistics operator that provides transport and logistics services. Trans Polonia is based in Tczew, Poland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-31 Punkta Brokers

Gdansk, Poland

Punkta Brokers is an end-to-end insurance platform facilitating motor insurance. Punkta connects end users, predominantly from the SME / corporate sector, to the motor insurance market with a focus on sourcing the best pricing and protection. The offering is underpinned by Punkta's unique platform, which has capabilities across the insurance cycle, incorporating in-life claims, policy, and vehicle repair management. Punkta Brokers was founded in 1999 and is based in Gdansk, Poland.

Sell -
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