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has been acquired by
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an Illinois Tool Works, Inc. company
Prestwick Partners acted as the exclusive agent
to
Franklynn Industries, Inc. and its shareholders. |
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The Business
Franklynn Industries, Inc. (“Franklynn”)
(www.franklynnusa.com) is a Cincinnati, Ohio-based manufacturer
and marketer of
water-based specialty functional coatings. Franklynn is a pioneer
in the development and introduction of environmentally
friendly mold-release coatings used in the manufacture of rubber,
ethylene vinyl acetate, composites, polyurethane and
thermoplastic products. Franklynn’s coatings are used in
various molding processes (e.g., compression, injection, transfer,
etc.) to provide a critical barrier between the tooling surface
and the molded part. Franklynn’s broad line of mold-release
coatings are marketed internationally under the Diamondkote® and
Aqualift® brands to OEMs participating in the
automotive, sporting goods, pharmaceutical, aerospace and building
products industries. |
The
Industry
Franklynn participates in the global mold-release
coatings market, a $500 million niche within the $430 billion
specialty chemicals industry. Franklynn’s primary
competitors are Chem-Trend L.P., Henkel KGaA, and
E.I. du Pont de Nemours and Company. Franklynn will
serve as a platform for ITW Performance Polymers to grow
its share of the mold-release market both organically and
by
acquisition. |
The
Process
Prestwick Partners initiated this transaction
and acted as the exclusive financial advisor to Franklynn
and its shareholders. Prestwick Partners designed an M&A
process, prepared marketing materials, evaluated
acquisition proposals and negotiated the transaction
with Illinois Tool Works Inc. Our process included
both domestic and international strategic acquirers as
well as private equity groups. |
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