ITW To Buy Materials Testing Supplier Instron
ITW To Buy Materials Testing Supplier Instron
Jason Sandefur
Illinois Tool Works Inc. signed an agreement to buy materials testing supplier Instron Corp. from Kirtland Capital Partners. Terms of the deal for Norwood, MA-based Instron were not disclosed. ITW expects the acquisition to close by the end of October. The deal has received U.S. regulatory approval, but still requires European regulatory approval, ITW said.
With sales of $240 million, Instron’s operations spread across the Americas, Europe and Asia, ITW CEO David Speer said in a statement. Instron was founded in 1946 and was taken private through a sale to Cleveland, Ohio-based Kirtland in 1999. According to its website, Instron operates a manufacturing facility in Grove City, PA. Web: instron.com
Glenview, IL-based ITW manufacturers fasteners and other engineered components, and has sales of $11.7 billion. Web: itw.com �2005 FastenerNews.com
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