Citi Capital Strategies Advises The E.H. Wachs Company on Its Acquisition by Illinois Tool Works Inc.

NEW YORK--(Business Wire)--
Illinois Tool Works Inc. (NYSE:ITW) acquired substantially all the assets of The
E.H. Wachs Company, a manufacturer of on-site machining and valve-turning
equipment.

Citi Capital Strategies,a leading provider of investment banking services to
privately held businesses,served as the exclusive financial advisor to The E.H.
Wachs Company. The terms of the transaction were not disclosed.

"We are pleased to assist our client with their exit from a business that has
been in the family for over 125 years," said Ted Polk, Managing Director at Citi
Capital Strategies. "EH Wachs has grown from a company that originally provided
steam fitting and general millwork on boiler plants in Chicago in the late 1800s
to a company recognized throughout the world for its quality machine products
and outstanding customer service. It has a long history of innovation and
change, and we are proud to be a part of the next stage of the company`s
evolution."

Citi Capital Strategies is a leading investment bank dedicated to serving the
needs of closely held and family owned businesses. Citi Capital Strategies
specializes in mergers, acquisitions, recapitalizations, ESOPs, and capital
solutions for private businesses. Citi Capital Strategies is a division of
Citigroup Global Markets Inc. Member SIPC. For more information, visit our
website at www.citicapitalstrategies.com

The E.H. Wachs Company is a global manufacturer of on-site machining and
valve-turning equipment. Its products are used for heavy-duty pipe cutting and
valve applications in the oil, gas, water and power generation industries. The
company`s comprehensive line of standard products is complemented by
custom-engineered and manufactured equipment for specialized machining
applications. The business was founded in 1883.

With $14.9 billion in revenues, ITW is a diversified and value-added
manufacturer of highly engineered components and industrial systems and
consumables. The Company consists of approximately 825 business units in 52
countries and employs some 60,000 people.

Citi Global Wealth Management
Mark Costiglio, 212-559-2178
Media Relations
mark.costiglio@citi.com

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