IK Investment Partners to sell Axtone Group to ITTIK
IK Investment Partners (“IK”) is pleased to announce that the IK 2004 Fund has reached an agreement to sell Axtone Group S.A. (“Axtone” or “the Company”), a leading manufacturer of highly engineered and customised components for railway industry, to ITT Inc., a US stock quoted manufacturer of engineered critical components and technology solutions for the energy, transportation, and industrial markets worldwide. Financial terms of the transaction are not disclosed.Axtone is Europe’s premier manufacturer of buffers, draw-gear devices, railway springs as well as other shock absorption and