Cutting equipment manufacturer Fletcher-Terry Company, East Berlin, Conn., announces that it has agreed to acquire two businesses from Illinois Tool Works (ITW) —AMP and Alfamacchine, Srl. AMP has operations in Vernon Hills, Ill. and Pontotoc, Miss., and Alfamacchine is located in Forli, Italy. Both companies offer equipment for assembling frames for the picture framing and the woodworking industry.
Under the terms of the sale, AMP and Alfamacchine will each become wholly owned subsidiaries of Fletcher-Terry. The purchase includes all of AMP and Alfamacchine’s property, equipment, patents and intellectual property. Fletcher-Terry intends to operate the two businesses independently and will continue operations at all existing AMP and Alfamacchine facilities. Fletcher will continue ITW’s tradition of offering trade accounts and multi-site retailers innovative products and outstanding service.
Fletcher-Terry president Blair Tomalonis commented, "We are very excited to have AMP and Alfamacchine join The Fletcher Business Group. These two strategic acquisitions dovetail perfectly with our core businesses as we continue to serve our OEM and wholesale trade accounts in the wall décor and picture framing markets. Alfamacchine provides us with a manufacturing base in Europe and enables us to better serve our customers globally as we continue to expand our production and distribution facilities.”