Kirkland Reps Carlyle In $3.2B Industrial Packaging Co. Buy

Law360, New York (February 6, 2014, 7:17 PM EST) -- Global asset manager The Carlyle Group is picking up Industrial Packaging Group from Illinois Tool Works Inc. for $3.2 billion, the companies said Thursday.

IPG manufactures strap, stretch, and protective packaging consumables, tools and equipment, Carlyle said. The Glenview, Ill.-based company has 88 manufacturing locations around the world and has a presence in 45 countries. The deal is expected to close by the middle of this year.

“IPG is a highly diversified business with strong management, attractive market positions and excellent free cash flow,” Carlyle managing...
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