has been acquired by
PNA is a leading manufacturer of patented, engineered systems and innovative products for the concrete flooring industry.
PNA Construction Technologies
Type
M&A Sell-Side
Description
PNA, a leading manufacturer for the concrete flooring industry, engaged Croft & Bender after receiving offers from two strategic buyers. Croft & Bender advised running a limited competitive process, involving discussions with the initial bidders and one additional buyer, ultimately negotiating the successful sale of PNA to Illinois Tool Works (NYSE: ITW).
has been acquired by
PNA is a leading manufacturer of patented, engineered systems and innovative products for the concrete flooring industry.
About
PNA is a leading manufacturer of patented, engineered systems and innovative products for the concrete flooring industry. The Company's customers include numerous blue chip corporations in the retail, warehousing, manufacturing, and logistics markets.
Situation
After being approached by two strategic buyers, the Company engaged Croft & Bender to assist in evaluating the two offers and determine whether or not to run a competitive process to maximize valuation. Croft & Bender and the sellers determined that it was best to run a limited process by continuing discussions with the two preemptive bidders and introducing one additional buyer. Croft & Bender worked with the Company to develop marketing materials, conduct management presentations, manage the diligence process and negotiate with buyers.
Result
Croft & Bender successfully negotiated the sale of the Company to Illinois Tool Works (NYSE: ITW).