Stephen Simpson, CFA
Mon, Jan. 25, 9:28 AM
- Illinois Tool Works (NYSE:ITW) has agreed to acquire the Engineered Fasteners and Components business from ZF TRW for approximately $450M.
- The unit is a global supplier of engineered fastening systems and interior technical components to the Automotive OEM market, and generated revenues of $470M in 2015.
Feb. 6, 2014, 7:49 AM
- Carlyle Group (CG) has won a $3B-plus auction for Illinois Tool Works' (ITW) packaging business, NY Post reports.
- In winning ITW’s packaging unit, Carlyle beat out Apollo Global Management (APO) in the final round, according to the report.
- The deal would be David Rubenstein's second large purchase in less than a month after agreeing to buy Johnson & Johnson’s clinical testing division for $4.15B.
Nov. 25, 2013, 5:50 PM
- Illinois Tool Works (ITW -0.3%) will enter a second round of bidding for its industrial packaging unit with P-E firms Carlyle, Blackstone, Apollo Global, Bain, Ares Management, and a consortium of Onex and the Canada Pension Plan Investment Board with the intent to hammer out a deal that could fetch more than $3B for the ops, Reuters reports.
- The unit, which had revenue of ~$2.4B in 2012, was put on the market back in Sept.
Jul. 3, 2013, 9:55 AM
Illinois Tool Works (ITW) snaps up Chinese kitchen-equipment company Vesta from P-E firm Actis for an undisclosed sum. Vesta employs around 900 people in two factories. It's worth noting that around 20% of ITW's pro-forma $17B sales last year came from the geographic division that includes Asia, up from 8% in 2011, while food equipment accounted for 11% of revenue. (PR)| Jul. 3, 2013, 9:55 AM
Feb. 19, 2013, 9:10 AM
Illinois Tool Works (ITW) is considering its strategic options for its Industrial Packaging segment, including selling or spinning it off. The division, which had 2012 revenues of $2.4B, manufactures steel, plastic, and paper products used for bundling, shipping, and protecting transported goods. ITW has retained JPMorgan and Goldman Sachs as its financial advisers. (PR)| Feb. 19, 2013, 9:10 AM
Oct. 8, 2012, 4:39 PM
Illinois Tool Works (ITW) has bought Coeur Holding, a maker of disposable products used for diagnostic imaging and other medical procedures, for an undisclosed sum. Coeur joins Filtertek, a provider of filtration and flow control components for medical devices, in ITW's Medical Products division. (PR)| Oct. 8, 2012, 4:39 PM
Aug. 15, 2012, 2:36 PM13-F filings show Activist investor Ralph Whitworth's Relational Investors doubled down on Illinois Tool Works (ITW +0.6%) during the second quarter. The fund bought 6.8M shares from April 1 through June 30, bringing its total investment to 14.6M shares, a 3% stake. Relational started accumulating shares of ITW as far back as mid-2011, after reaching a deal with the company last January which gave it the option to appoint one its principals, David Batchelder, to its board in 2013. | Aug. 15, 2012, 2:36 PM