Despatch Industries, a leading provider of thermal processing equipment for the solar, carbon fiber and thermal technology markets, recently announced that the company has been acquired by Illinois Tool Works Inc. Despatch selected ThinkEquity LLC to serve as its exclusive financial advisor and to represent the company during the acquisition process.
"Through a diligent and exhaustive search, we determined ThinkEquity to be the best fit to represent Despatch in the next phase of our company's growth," states Patrick Peyton, Chief Executive Officer. "Over the last several years we have established a strong relationship with ThinkEquity, and we know the company to have a sound reputation backed by years of experience in investment banking and advisory services. We trusted that ThinkEquity would be meticulous in finding a company like ITW that is a great fit for the Despatch business model. ThinkEquity's presence in the clean technology space and their ability to connect Despatch with strategic partners within that space was an invaluable service."
"ITW's successful acquisition of Despatch is evidence of a growing recognition of the large market opportunity in front of Cleantech businesses," said Bryan Dow, ThinkEquity Vice President. "Despatch's senior management team has done a remarkable job of building a market-leading business by identifying nascent Cleantech market opportunities for their core technology and executing against them in an incredibly effective manner. ThinkEquity cultivated a multi-year relationship with Despatch and was honored to have advised Despatch and its shareholders in identifying and ultimately partnering with a company with ITW's financial strength, reputation and global resources. Despatch has now taken a critical next step in positioning its business for continued global growth and long-term success with ITW."