Illinois Tool Works Inc. (ITW) acquired Despatch Industries, a provider of thermal-processing equipment for the solar, carbon-fiber and other thermal-technology markets. Terms of the transaction were not disclosed. Despatch products include solar cell firing furnaces, carbon-fiber process ovens and batch thermal-processing equipment. Despatch furnaces and industrial ovens primarily serve customers in the solar energy, advanced materials and electronics industries. The company was founded in 1902 and is located in Minneapolis, Minn.

With nearly 100 years of history, ITW is a Fortune 200 global diversified industrial manufacturer. ITW’s key business platforms, including welding, automotive OEM, industrial packaging, food equipment, construction, polymers and fluids, test and measurement, electronics, and automotive aftermarket, employ more than 60,000 people worldwide.