August 29, 2014
Croft & Bender Serves as Financial Advisor to PNA Construction Technologies on its Sale to Illinois Tool Works
Croft & Bender, an Atlanta-based investment banking and private equity firm, is pleased to announce the successful sale of its client, PNA Construction Technologies (“PNA”), to Illinois Tool Works (“ITW”).
Headquartered in Atlanta, Georgia, PNA is a leading manufacturer and supplier of innovative, patented products for the concrete flooring industry. The acquisition by ITW will enable PNA to accelerate its growth plans both domestically and internationally.
Croft & Bender served as the exclusive financial advisor to PNA in the sale process. “Croft & Bender’s process and expertise generated a superior outcome for shareholders and enabled us to navigate challenges that we faced along the way. Croft & Bender’s senior bankers were deeply involved in every meaningful aspect of the transaction, and their extensive experience benefited every step of the process,” said PNA Executive Vice President Nigel Parkes.
“We appreciated the opportunity to advise the shareholders of PNA with their transaction and are glad everyone was pleased with the outcome. The PNA team has built a leading platform serving the concrete flooring industry, which will be a strong asset for ITW going forward,” commented Bo Briggs, Managing Director at Croft & Bender.
Morris, Manning & Martin, LLP acted as legal advisor to PNA.