SMS selling Battenfeld I/M division
Munich, Germany-based private equity firm Adcuram Industriekapital AG has signed a contract to take over injection ...
October 13, 2006 by Canadian Plastics
Munich, Germany-based private equity firm Adcuram Industriekapital AG has signed a contract to take over injection machine manufacturer Battenfeld, and its 13 subsidiaries, from holding company SMS GmbH.
Thomas W. Probst, Adcuram’s CEO, described the acquisition as an ideal match for the equity firm, which purchased the Kautex blow molding operation in 2004.
“As a mechanical engineering company with leading technology, a strong brand and customer relations that have evolved over decades, Battenfeld perfectly suits the Adcuram Group’s investment approach,” he said. “We are looking forward to supporting the long-term advancement of Battenfeld as a force for innovation in the injection molding field.”
Battenfeld, based in Kottingbrunn, Austria, employs approximately 620 people in the injection business, and reported annual sales of more than US$125 million in 2005.
The company’s Canadian operations are headquartered in Mississauga, Ont.
Dusseldorf, Germany-based SMS GmbH continues to own and operate the American Maplan and the Cincinnati-brand extrusion businesses, as well as the Battenfeld Glouster film and sheet equipment business.