Fletcher-Terry Acquires AMP and Alfamacchine
The Fletcher-Terry Company, LLC of East Berlin, CT, an industry-leading manufacturer of industrial machinery, tools, equipment and consumable supplies, is pleased to announce that it has agreed to acquire two Illinois Tool Works (NYSE:ITW) businesses, AMP and Alfamacchine, Srl.AMP has operations in Vernon Hills, Illinois and Pontotoc, Mississippi. 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. Fletcher will continue ITW’s tradition of offering trade accounts and multi-site retailers innovative products and outstanding service.
Fletcher-Terry president Blair Tomalonis commented, "We are very excited to have AMP and Alfamacchine join The Fletcher Business Group. 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.”
Mr. Tomalonis continued, “These two acquisitions will help us strengthen our relationships with our distribution and OEM channel partners.”
Timm Fields, General Manager of ITW’s NA Commercial Construction Division, agrees. “When ITW decided to divest these two businesses, we could not think of a better strategic fit than Fletcher-Terry. Our customers will continue to receive the high level of service and premium-quality fastening products and solutions they have come to expect from AMP and Alfamacchine.
With the AMP and Alfamacchine acquisitions, The Fletcher Business Group will expand the products and services it offers to a variety of markets globally including picture framing and wall décor, sign and digital graphics, hardware, industrial glass, aerospace components, logistics and contract manufacturing.