9 Mar 2022
Purchase in line with strategy to grow in thermoplastics, 'high recycled-content' engineered polymers
Krefeld, Germany - Hexpol AB has signed a deal to acquire 70% of the shares in German recycled polymer compounder almaak, for approximately €70 million.
Based in Krefeld, the company is currently owned by Olaf Eichstädt and Thomas Schmeinta, and employs 190 people across two production facilities in Germany, Hexpol announced 8 March.
The compounder reported sales of €75 million in 2021, with a profitability level “just below the Hexpol Group,” said the statement.
Described as “specialist in high quality recycled engineered polymer compounds,” almaak mainly supplies to the European automotive industry.
Hexpol said the purchase was in line its M&A strategy which seeks to grow in thermoplastic compounding and ‘high recycled-content’ speciality engineered polymers.
According to its website, almaak produces 60 kilotonnes per annum of technical thermoplastics, including polyamides, polycarbonate and polypropylene at manufacturing plants in Krefeld and Doberlug-Kirchhain.
The transaction is set for completion in the second quarter of the year.
Eichstädt and Schmeinta will stay with the company post-acquisition.
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