P.W.T. S.p.A. (Pipe Welding Technology), based in Guardamiglio (near Lodi), is a leading company in the area of automated pipeline welding systems. The company, which has an annual turnover of about € 11 million, was founded in 1989 by Fernando Rinaldi who will continue to be President even after the acquisition.
I.T.W. Inc (Illinois Tool Works), with nearly 100 years of history, is a multinational company stocked at the New York Stock Exchange. In 2010 the company registered a turnover of about $ 16 billion. ITW is active in the following businesses: welding, transportation, automotive OEM, food, construction products, chemical products, electronics and industrial packaging.
Cross Border acted as exclusive financial advisor to the shareholders of P.W.T. SpA in the selling process.