Illinois Tool Works Inc. completed the acquisition of Test & Simulation Business of MTS Systems Corporation.
December 30, 2021
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Illinois Tool Works Inc. (NYSE:ITW) entered into an agreement to acquire Test & Simulation Business of MTS Systems Corporation (NasdaqGS:MTSC) for $750 million on January 19, 2021. Test and Simulation will retain the MTS brand and become a stand-alone entity within ITW's Test and Measurement and Electronics segment. The MTS Test & Simulation team will be joining ITW. The transaction is subject to certain regulatory approvals and other customary closing conditions, including clearance under the Hart-Scott Rodino Antitrust Improvements Act of 1976, as amended. It is expected to close following the closing of Amphenol's acquisition of MTS. As of February 5, 2021, the deal is expected acquisition to close in the end of 2021. As per announcement on October 28, 2021, the transaction is expected to complete in fourth quarter of 2021. Centerview Partners LLC is serving as Amphenol's financial advisor for the transaction. Goldman Sachs & Co. LLC is serving as ITW's financial advisor for the transaction. Charles K. Ruck and Robert Matthew Katz of Latham & Watkins LLP acted as a legal advisor to MTS Systems Corporation.
Illinois Tool Works Inc. (NYSE:ITW) completed the acquisition of Test & Simulation Business of MTS Systems Corporation (NasdaqGS:MTSC) on December 1, 2021.
Illinois Tool Works Inc. is a diversified industrial group organized around 7 families of products:
- automotive equipment (20.1% of net sales). Besides, the group proposes products for maintenance and refurbishment (coatings, sealants, shutters, etc.);
- electronic equipment (17.5%): primarily equipment of microelectronic assembly. The group also provides test and measurement equipment and software;
- equipment for industrial kitchens (16.3%): cookers, dishwasher, ovens, refrigerators, cupboards, systems of aeration, etc.;
- construction systems and materials (12.6%): powder and gas nailing, perforators and consumables (fuses, chisels, pads, plugs, etc.) intended for applications on wood, steel and concrete;
- polymers, coatings, resins, adhesives and lubricants (11.2%);
- metallurgical equipment (10.5%): arc welding equipment, blowtorches, welding accessories, etc.
- specialty products (11.3%): industrial packaging systems and materials, products coding and marking equipment, etc.
Net sales are distributed geographically as follows: the United States (47.1%), North America (6.9%), Europe/Middle East/Africa (25.8%), Asia/Pacific (18.3%) and South America (1.9%).
ILLINOIS TOOL WORKS INC. 
