Private equity firm American Industrial Partners Capital Fund IV, L.P., announced Thursday that its newly formed Micro-Poise Measurement Systems, LLC, has acquired the Quality Measurement division of Illinois Tool Works Inc.
“Strong demand in emerging markets such as Eastern Europe and Asia coupled with the industry leading capabilities of our new product offerings have allowed us to build a strong book of business and a very favorable earnings outlook,” said Steve Harris, CEO of Micro-Poise. “We look forward to partnering with the American Industrial Partners team, who we are confident will provide the added financial, strategic and operational resources needed to further build our global business platform.”
Financial terms were not disclosed.
Illinois Tool Works Inc. is a global provider of precision measurement equipment and aftermarket support to the tire and automotive industries.