Sale of CCI Corporation to TruckPro, LLC
Baird served as the exclusive financial advisor to Illinois Tool Works Inc.
AboutIllinois Tool Works Inc. (“ITW”) (NYSE: ITW) recently completed the sale of its subsidiary, CCI Corporation (“CCI”), to TruckPro, LLC (“TruckPro”) a portfolio company of Harvest Partners, LP (“Harvest”). Terms of the transaction were not disclosed.
CCI is a leading network of commercial vehicle parts and service locations, with 100 retail stores, service shops and distribution center locations in the U.S. and Canada. CCI’s part offering includes full drivetrain, power take-off, suspension, brakes, hydraulics and related parts, as well as repair and rebuilding services. CCI is headquartered in Tulsa, Oklahoma.
ITW is a global, diversified industrial manufacturer with key business platforms including test and measurement and electronics, automotive OEM, polymers and fluids, food equipment, construction products, welding, specialty products, and industrial packaging. ITW is headquartered in Glenview, Illinois.
TruckPro is one of the largest independent distributors of heavy duty aftermarket truck parts and accessories in the U.S. TruckPro distributes a full range of maintenance and repair products for heavy duty vehicles of substantially all makes and models. The company sells its products to a diverse, growing base of customers in numerous end markets, including small, regional and national trucking companies, private fleets, waste services companies, construction companies, municipalities, and independent repair shops. TruckPro is headquartered in Memphis, Tennessee.
Harvest is a private equity investment firm pursuing management buyouts and recapitalizations of middle-market companies in North America. Founded in 1981, Harvest focuses on acquiring profitable companies in the business and industrial services, manufacturing and distribution, healthcare, midstream energy, and consumer products and retail sectors. Harvest is headquartered in New York, New York.
For additional information about this transaction, please contact:
- August 2013
- Illinois Tool Works Inc.
- Target Location
- North America
- Acquiror Location
- North America