On June 30, Batesville, Indiana-based Hillenbrand Inc. announced it has agreed to acquire Herbold Meckesheim GmbH. Herbold serves as a recycling systems specialist and is headquartered in Meckesheim, Germany.
Hillenbrand said it will purchase Herbold for an enterprise value of approximately €79 million (approximately $82 million USD.)
Herbold will join the Coperion and Rotex brands as part of Hillenbrand’s Advanced Process Solutions segment, which focuses on industrial processing solutions and aftermarket parts and services for a variety of end markets and applications.
“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,” said Kim Ryan, president and CEO of Hillenbrand. “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, subject to regulatory approval and customary closing conditions. Hillenbrand said it expects to use cash on hand and cash available under its revolving credit facility to fund this acquisition.