Industry News

Goldsmith Agio Helms Completes the Sale of Permatex, Inc. to Illinois Tool Works Inc.

Published on 2005-01-07. Author : SpecialChem

MINNEAPOLIS -- Goldsmith Agio Helms announced the completed sale of its client, Permatex, Inc., a portfolio company of The Jordan Company, L.P., to Illinois Tool Works Inc. (NYSE:ITW - News). Permatex is a leading manufacturer and distributor of premium branded specialty-chemical products sold primarily in the automotive aftermarket. The Company's broad line of consumer products are sold through multiple retail channels including specialty retailers, mass merchandisers, club stores and home centers.

Mike McFadden, a managing director and partner of Goldsmith Agio Helms, commented, "The sale of Permatex is another example of Goldsmith Agio Helms' growing presence in the consumer market. This transaction represents our firm's 93rd M&A transaction in the consumer sector and marks our 12th completed consumer deal in 2004." Joe Conte, a managing director of Goldsmith Agio Helms, added, "The Permatex transaction signifies a terrific result for all parties. The transaction represents another successful exit for The Jordan Company, and the addition of an outstanding company for Illinois Tool Works."

Illinois Tool Works Inc. is a leading designer and manufacturer of highly engineered fasteners and components, equipment and consumable systems, and specialty products and equipment for customers around the world. The Company's 625 decentralized business units operate in 44 countries, designing and manufacturing a wide range of products used in the automotive, construction, paper products, and food and beverage industries. Illinois Tool Works was founded in 1912 and is a Fortune 200 company. It trades on the NTSE under the symbol ITW.

Permatex, Inc. is a leading manufacturer and distributor of premium branded specialty-chemical products sold in the automotive aftermarket and the industrial maintenance and repair market. The Company's product lines include adhesives and sealants, waterless hand cleaners, lubricants and cleaners, appearance and performance products, and other specialty maintenance and repair products. Permatex's specialty-chemical products are sold under a number of highly recognized and market-leading brands including Permatex, Right Stuff, Ultra Series, Fast Orange, No Touch, and NOS.

The Jordan Company L.P. is a New York based private equity group that invests in a broad array of industries alongside management. Since 1974, partners of The Jordan Company and its affiliate, The Jordan/Zalaznick Capital Company, have successfully completed more than 300 acquisitions. Today, The Jordan Company has a portfolio of companies with aggregate revenues in excess of $4.0 billion. The Jordan Company has over $2.5 billion in capital in its affiliated funds, partnerships, and portfolio companies, anchored by the $1.5 billion Resolute Fund, L.P.

Goldsmith Agio Helms is one of the nation's leading private investment banking firms providing financial advisory services to middle market businesses. The firm's services include mergers and acquisitions, distressed advisory and restructuring, valuations and fairness opinions, and private placements of debt and equity. The firm has offices in Minneapolis, Chicago, New York, Los Angeles, and London.

Note: This News Release contains certain forward-looking statements. Additional written and oral forward-looking statements may be made by the Company from time to time in Securities and Exchange Commission (SEC) filings and otherwise. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking words or phrases including, but not limited to, "anticipate," "believe," "expect," "intend," "may," "planned," "potential," "should," "will" or "would." The Company cautions readers that results predicted by forward-looking statements, including, without limitation, those relating to the Company's future business prospects, revenues, working capital, liquidity, capital needs, interest costs and income are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.

Source: Goldsmith Agio Helms

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