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Chicago-Based Dresner Partners Represents BAL In Sale To ITW
CHICAGO – February 6, 2006 – Dresner Partners announced that it acted as the exclusive financial advisor to BAL (Bay Area Labels) in the sale of the company to Illinois Tool Works Inc. (NYSE: ITW). Terms of the transaction, which closed January 31, were not disclosed.
Based in San Jose, California, BAL is a leading manufacturer of high-quality, custom-printed components including panel overlays, pressure sensitive labels, membrane switches, bar coding labels and other custom fabricated components. Originally founded in 1980 by Oliver Flach, the firm's president, BAL today employs over 200 people and serves a diverse, international customer base across a range of industries. The company has built a strong reputation and loyal customer base through its industry leading turnaround times, high quality products, and exceptional customer service.
"We are delighted to bring BAL into the ITW family," said Valerie Kennedy, ITW Marking & Sealing Group President. "We immediately saw a strong strategic fit with BAL, not only in terms of product offerings and manufacturing expertise, but also in terms of operating cultures, given BAL's loyalty and commitment to its employees and customers. We are excited to build upon the company's history of success and leverage ITW's global presence and resources to both enhance BAL's ability to service its existing customers and help attract new customers, both domestically and abroad.”
ITW is a $12.9 billion in revenues diversified manufacturer of highly engineered components and industrial systems. The company consists of approximately 700 decentralized operations in 48 countries and employs some 50,000 people.
“This transaction was a natural and logical one, given the strong manufacturing capabilities of both parties,” said Steven M. Dresner, president of Dresner Partners. “It was exciting to put our firm’s expertise in middle-market industrial transactions to work on behalf of BAL.”