Hillenbrand Inc. announced it has entered into a definitive agreement to acquire German recycling systems manufacturer Herbold Meckesheim GmbH, with an enterprise value of approximately $81 million.
If regulatory approval and customary closing conditions progress as expected, the deal will close in the fourth quarter of this year.
Herbold is based in Meckesheim, Germany, and specializes in process steps such as washing, separating, drying, shredding and pulverizing, and has annual revenue of more than $51.3 million.
Hillenbrand, based in Batesville, Ind., said the acquisition would complement its plastics portfolio, which includes brands such as Coperion, Mold-Masters and Milacron Injection Molding & Extrusion.
David Tillett | Associate Editor
Associate Editor David Tillett writes and edits for Plastics Machinery & Manufacturing, Plastics Recycling and The Journal of Blow Molding. He covers new products, industry news, patents and consumer and business equipment. He has more than 20 years of experience in daily newspaper, online and magazine journalism.
