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Seale & Associates was retained by ITT Corporation as exclusive financial advisor to advise on the divestiture of a three distinct businesses operating in a shared facility. The Burny, Kaliburn, and Cleveland Motion Control businesses were a leading designer and manufacturer of premier shape cutting solutions, custom engineered systems, and web tension control products. This was ITT’s first divestiture since its separation into three independent publicly traded companies (ITT Corporation, Xylem Inc., Exelis Inc.).


“Seale has consistently demonstrated they can manage a disciplined divestiture process that maximizes value, minimizes management distraction, and maintains a high degree of confidentiality.”

Aris Chicles, President Industrial Process, ITT Corporation

Seale professionals ran a competitive auction process, managing multiple strategic and private equity investors with experience in the welding, plasma cutting, and process technology industries in order to achieve the highest price under the most favorable terms and conditions.


The process resulted in the sale of ITT’s shape cutting product lines, including the Burny and Kaliburn brands, to Lincoln Electric Holdings, Inc. (Nasdaq: LECO), a global manufacturer of welding, cutting and joining products headquartered in Cleveland, Ohio. The sale also included the web tension control products and custom engineered systems sold under the Cleveland Motion Controls brand.

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