We’ve been waiting to make this announcement for months, if not years. The formal acquisition of Kester by Illinois Tool Works yesterday puts an end to one long saga and begins the next chapter in the book of the 100-year old company.
For more than two years, Kester’s fate was in the hands of private equity group American Capital Group, which purchased the solder vendor from Northop Grumman. The company grew, but it was a time of uncertainty for its hundreds of employees around the world. Now, the solder supplier finds itself in the hands of a Fortune 200 company whose headquarters are right down the road from Kester’s own.
As best I can tell, Kester will be melded into ITW’s welding group. Not the sexiest fit, but ITW should be a good and benevolent parent for years to come.