Mesirow Financial acted as the exclusive financial advisor to Multi-Wall Packaging Corporation ("Multi-Wall") in its sale to Illinois Tool Works Inc. ("ITW"). Multi-Wall will operate within ITW’s Industrial Packaging business unit, which manufactures steel, plastic and paper products for shipping and protecting transported goods.
Based in East Providence, Rhode Island, Multi-Wall is an innovative and entrepreneurial provider of customized protective packaging solutions to the office and residential furniture, appliance, HVAC, consumer products and related industrial end markets. Given its unique ability to produce highly-engineered and custom-designed products, Multi-Wall has established itself as a proven leader in the protective packaging industry.
Charlie Dunn, President of Multi-Wall, commented, "Mesirow Financial was instrumental in identifying a strong group of strategic and financial prospective buyers. Our clients and employees will both benefit as ITW and Multi-Wall join forces to provide an expanded product line and geographic reach. Mesirow’s advice throughout the process resulted in a successful outcome for all the parties involved."
"We're pleased to expand our world-class protective packaging manufacturing capabilities," said Mike Loeschen, ITW Group President. "Multi-Wall has developed a strong reputation for excellence in design and manufacturing, and we look forward to building on that success going forward."
Bill Hornell, Managing Director of Mesirow Financial, said, "We are proud to have served as financial advisor to Multi-Wall in this highly-strategic and complementary transaction."
The transaction represents another successful assignment completed by Mesirow Financial's Investment Banking Group. Having completed over 80 packaging transactions in recent years, Mesirow Financial is one of the most active advisors in the paper and packaging sector.
About Illinois Tool Works Inc.
Illinois Tool Works Inc. (NYSE:ITW) is a Fortune 200 global diversified industrial manufacturer. The Company's value-added consumables, equipment and service businesses serve customers in developed as well as emerging markets around the globe. ITW's key business platforms, including welding, automotive OEM, industrial packaging, food equipment, construction, polymers and fluids, test and measurement, electronics, decorative surfaces and automotive aftermarket, employ more than 60,000 people worldwide. ITW'’s revenues totaled $15.9 billion in 2010, with more than half of these revenues generated outside of the United States.