ITT Inc. completed the acquisition of Axtone S.A. from IK 2004 Fund of IK Investment Partners, Syntaxis Mezzanine Fund I L.P. of Syntaxis Capital U.F. GmbH and others.
January 25, 2017 at 11:00 pm
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ITT Inc. (NYSE:ITT) signed an agreement to acquire Axtone S.A. from IK 2004 Fund of IK Investment Partners, Syntaxis Mezzanine Fund I L.P. of Syntaxis Capital U.F. GmbH and others for approximately $120 million in cash on November 3, 2016. The final purchase price is subject to a customary net working capital adjustment. The consideration will be funded from ITT Inc.’s foreign cash. The transaction is subject to customary closing conditions, including appropriate regulatory approvals. The transaction is expected to close in the first quarter of 2017. The transaction is expected to be accretive to ITT earnings in the first full year after closing. Delfino and Krzysztof Pawlisz, Andrzej Motyka, Agnieszka Skowronek, Karol Skibniewski, Krzysztof Kanton and Jaroslaw Lukawski of Soltysinski, Kawecki and Szlezak acted as legal advisor to ITT. Agnieszka Janicka, Slawomir Czerwinski , Mateusz Stepien, Antoni Wandzilak, Rafal Zakrzewski, Piotr Weclawowicz and Mateusz Chmura of Clifford Chance acted as legal advisor to the sellers. Willkie Farr & Gallagher LLP acted as legal advisor for ITT Inc.
ITT Inc. (NYSE:ITT) completed the acquisition of Axtone S.A. from IK 2004 Fund of IK Investment Partners, Syntaxis Mezzanine Fund I L.P. of Syntaxis Capital U.F. GmbH and others on January 26, 2017.
ITT Inc. is a diversified manufacturer of engineered critical components and customized technology solutions for the transportation, industrial and energy markets. Its segments include Motion Technologies (MT), Industrial Process (IP), and Connect & Control Technologies (CCT). The MT segment manufactures brake components and specialized sealing solutions, shock absorbers and damping technologies primarily for the global automotive, truck and trailer, public bus and rail transportation markets. The IP segment manufactures engineered fluid process equipment serving a diversified mix of customers in global industries such as chemical, energy, mining, and other industrial process markets and is a provider of plant optimization and efficiency solutions and aftermarket services and parts. The CCT segment manufactures connector solutions, critical energy absorption, flow control components, and composite materials for the aerospace and defense, general industrial, medical, and energy markets.
ITT Inc. completed the acquisition of Axtone S.A. from IK 2004 Fund of IK Investment Partners, Syntaxis Mezzanine Fund I L.P. of Syntaxis Capital U.F. GmbH and others.
ITT INC. 
