TH Industrieholding AG has sold ELRO-Werke AG to Illinois Tool Works Inc.

September 2010 — 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.

Our role in the transaction

Oaklins' team in Switzerland advised the seller in this transaction, running a structured process with selected potential buyers.