Fletcher-Terry to Acquire Two Illinois Tool Works Businesses
July 30, 2012

The East Berlin, Conn.-based Fletcher-Terry Co. is in the process of acquiring two Illinois Tool Works (ITW) businesses, AMP and Alfamacchine Srl. AMP has operations in Vernon Hills, Ill., and Pontotoc, Miss. Alfamacchine is located in Forli, Italy.

Under the terms of the sale, AMP and Alfamacchine will each become wholly owned subsidiaries of Fletcher-Terry. The purchase includes all of AMP and Alfamacchine's property, equipment, patents and intellectual property. Fletcher-Terry intends to operate the two businesses independently and will continue operations at all existing AMP and Alfamacchine facilities, according to information from the company.

"We are very excited to have AMP and Alfamacchine join the Fletcher Business Group," says Fletcher-Terry president Blair Tomalonis. "These two strategic acquisitions dovetail perfectly with our core businesses as we continue to serve our OEM and wholesale trade accounts in the wall décor and picture framing markets. Alfamacchine provides us with a manufacturing base in Europe and enables us to better serve our customers globally as we continue to expand our production and distribution facilities."

Timm Fields, general manager of ITW's NA Commercial Construction Division, adds, "When ITW decided to divest these two businesses, we could not think of a better strategic fit than Fletcher-Terry."

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