Hillenbrand buys recycling system supplier Herbold
Canadian PlasticsPlastics Processes Recycling
Herbold will join the Coperion and Rotex brands as part of Hillenbrand's Advanced Process Solutions segment.
Industrial company Hillenbrand is buying Germany-based recycling system supplier Herbold Meckesheim GmbH for approximately 79 million euros (US$83 million).
Hillenbrand, which is based in Batesville, Ind., already owns brands such as Coperion, Milacron Injection Molding & Extrusion, and Mold-Masters, in addition to Batesville.
Based in Meckesheim, Germany, Herbold specializes in key recycling process steps such as washing, separating, drying, shredding, and pulverizing. “With annual revenue of more than 50 million euros, Herbold is highly complementary to the equipment and solutions offered under our Coperion brand and will accelerate [our] growth opportunities in the recycling end market,” Hillenbrand officials said in a June 30 news release.
At the completion of this transaction, Herbold will join the Coperion and Rotex brands as part of Hillenbrand’s Advanced Process Solutions (APS) segment. The APS segment is focused on highly engineered industrial processing solutions and aftermarket parts and services for a variety of end markets and applications.
“I am very excited to announce the acquisition of Herbold, which reinforces our commitment to growing as a world-class industrial company, executing our strategy to deliver long-term shareholder value, and accelerating our efforts to support a more sustainable future,” said Kim Ryan, president and CEO of Hillenbrand. “Herbold expands our position in the recycling end market, which has attractive, long-term growth prospects due to macro demand drivers for durable plastics and the desire for more sustainable solutions. Herbold will have a strong strategic fit with our Coperion brand, and together, we will be able to offer complete recycling solutions to our customers. Finally, we expect to enhance Herbold’s performance through the deployment of the Hillenbrand Operating Model and utilization of our global sales and service capabilities.”
The transaction is expected to close during the fiscal fourth quarter of 2022.