Illinois Tool Works Inc. has acquired Avery Weigh-Tronix, a manufacturer of high quality industrial weighing products and systems. Terms of the transaction were not disclosed.
"Avery Weigh-Tronix's global presence and premium brand position fit well in ITW's portfolio of businesses," said Steve Martindale, group president of Test and Measurement. "The acquisition of Avery's industrial business will complement our growing test and measurement platform."
Avery Weigh-Tronix is headquartered in Birmingham, England with operations in North America, Ireland, France, Austria, India, Malaysia and China. Approximately 40 percent of the company's revenues come from North America, 40 percent from the UK and Ireland, and 20 percent from other parts of the world.
Avery Weigh-Tronix will be a wholly owned subsidiary of ITW and part of the company's Test and Measurement group. Last year, the ITW Food Equipment group acquired the retail side of the business, Avery Berkel. In keeping with ITW's decentralized business structure, Avery Weigh-Tronix will maintain its brand and operate as a separate business.
With $16.2 billion in revenues, ITW is a diversified and value-added manufacturer of highly engineered components and industrial systems and consumables. The Company consists of approximately 825 business units in 52 countries and employs some 60,000 people.