HEXPOL AB (OM:HPOL B) completed the acquisition of a 70% stake in almaak international GmbH from Olaf Eichstädt and Thomas Schmeinta.
April 03, 2022
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HEXPOL AB (publ) (OM:HPOL B) agreed to acquire a 70% stake in almaak international GmbH from Olaf Eichstädt and Thomas Schmeinta on March 8, 2022. The acquisition price amounts to approximately 70 million on a cash and debt free basis and is funded by a combination of cash and existing bank facilities. Pursuant to the agreement, HEXPOL has an option to acquire the remaining shares, and Olaf Eichstädt and Thomas Schmeinta have the option to sell their remaining shares to HEXPOL. Olaf Eichstädt and Thomas Schmeinta will stay with almaak and further drive growth and technical excellence. almaak operates two sites in Germany with some 190 employees. almaak's turnover in 2021 amounted to 75 million with a profitability level just below the HEXPOL Group. The transaction will close after regulatory approval which is estimated to the 2nd quarter of 2022.
HEXPOL AB (publ) (OM:HPOL B) completed the acquisition of a 70% stake in almaak international GmbH from Olaf Eichstädt and Thomas Schmeinta on April 4, 2022. All regulatory approvals and contractual terms for the transaction have been met.
Hexpol AB is a Sweden-based company engaged in the development, manufacture and marketing of polymer products. Its operations are divided into two business areas. The HEXPOL Compounding business area develops and manufactures advanced polymer compounds for demanding applications, and includes 25 production units with production, sales and development operations, which are divided into four areas: the geographic regions of North American Free Trade Agreement (NAFTA), Europe and Asia, as well as the HEXPOL Thermoplastic Elastomer (TPE)-Compounding product area. The HEXPOL Engineered Products business area offers a combination of material and application technology in polymer materials and special components, and develops and manufactures rubber gaskets for plate heat exchangers and rubber and plastic wheels for forklifts. The Company focuses mainly on the Original Equipment Manufacturer (OEM) customers. In August 2014, Hexpol AB completed the acquisition of Kardoes Rubber.