Follow-on Offering

Industrial
Follow-on Offering

Summary

Baird served as a passive bookrunner on this transaction

About

John Bean Technologies Corporation (“JBTC” or the “Company”) (NYSE: JBT) recently completed a follow-on offering of 2,300,000 shares of common stock at a price of $85.00 per share, generating gross proceeds of approximately $195 million. All shares offered were sold by the Company. JBTC intends to use the proceeds from the offering to pay down debt and for general corporate purposes.

JBTC is a leading global technology solutions provider to high-value segments of the food & beverage industry with focus on proteins, liquid foods and automated system solutions. The Company designs, produces and services sophisticated products and systems for multinational and regional customers through its FoodTech segment. JBTC also sells critical equipment and services to domestic and international air transportation customers through its AeroTech segment. The Company employs approximately 5,000 people worldwide and operates in more than 25 countries. The Company is headquartered in Chicago, Illinois.
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Industrial
Follow-on Offering
Date
March 2017
Company
John Bean Technologies Corporation
Transaction
M&A
Sectors
Industrial
Target Location
North America

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