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
© 2018 Oaklins. All rights reserved. Oaklins is the collective trade name of independent member firms affiliated with Oaklins International Inc. For details of the nature of affiliation, please refer to www.oaklins.com/legal.