Hillenbrand HI has entered into a definitive agreement to
acquire privately held Coperion Capital GmbH (Coperion), a portfolio company
of Deutsche Beteiligungs AG, for an estimated purchase price of €408 million
($530 million at current exchange rates), which includes the assumption of an
estimated €76 million of net debt and €100 million pension liability. The
final price is subject to certain closing and post closing adjustments. The
transaction is expected to close in December or January, depending upon
satisfaction of certain conditions, including receipt of applicable regulatory
approvals.
Based in Stuttgart, Germany, Coperion is a global leader in the manufacture of
compounding, extrusion and bulk material handling equipment used in a broad
range of industries, including plastics, chemical, food processing,
pharmaceutical and aluminum, as well as related replacement parts and service.
At the completion of this transaction, Coperion will become the largest
company in Hillenbrand's Process Equipment Group. Gunter Bachmann, currently
Coperion's CEO, will continue as president of Coperion reporting to Joe A.
Raver, president of Hillenbrand's Process Equipment Group. Coperion's
headquarters will remain in Stuttgart, Germany.
During the trailing 12-month period ended September 30, 2012, Coperion's
revenue was €520 million ($675 million) and earnings before interest, taxes,
depreciation and amortization (EBITDA) was €38.7 million ($50.2 million).
This includes €4.5 million ($5.8 million) of interest expense related to the
assumed pension liability. Adjusted EBITDA, which excludes €6.7 million of
restructuring charges, was €45.4 million ($58.9 million).
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in