TH Industrieholding AG has sold its company ELRO-Werke AG (ELRO), a leading developer and manufacturer of high quality thermal food service equipment, to Illinois Tool Works Inc. (ITW), a multinational manufacturer of a diversified range of value-adding and short lead time industrial products and equipment. Financial details have not been disclosed.
Under ITW's ownership, ELRO will continue to operate as a separate business as part of ITW’s Food Equipment Group. ITW is present in 57 countries and has 59,000 employees.
Oaklins' team in Switzerland advised the seller in this transaction, running a structured process with selected potential buyers.
Dr. Peter M. Binder
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