Nordson buys Kreyenborg's polymer-related companies

By Bill Bregar
Senior Staff Reporter

Published: July 18, 2013 12:22 pm ET
Updated: July 18, 2013 7:01 pm ET

Related to this story

Topics Mergers & Acquisitions, Machinery, Molds/Tooling

Nordson Corp. is continuing its acquisition spree into plastics-related equipment and components.

The Westlake, Ohio-based company announced July 18 that it will buy two sister companies in Germany — Kreyenborg GmbH, a maker of screen changers and melt filters, and pelletizer manufacturer BKG Bruckmann & Kreyenborg Granuliertechnik GmbH.

Both companies are part of the Kreyenborg Group in Münster, Germany. Nordson announced July 18 that it signed a definitive agreement to buy the companies. According to Kreyenborg, the sellers are managing directors Jan-Udo Kreyenborg and Theodor Bruckmann, who have retired from the management of these companies.

Jan Hendrik Ostgathe and Ralf Simon, who had been working for the companies as top executives, will also handle management after the change of ownership. Kreyenborg informed the 270 employees of the two Germany operations about the sale earlier in the day, before the public announcement.

Revenues for the Kreyenborg and BKG were about 62 million euros ($80 million) in 2012, according to Nordson.

In a financial filing, the Nasdaq-traded Nordson said it is paying 135 million euros ($175 million) for the companies. The deal is scheduled to close in the fourth quarter of Nordson's fiscal year, which ends Oct. 31.

The two new German businesses will operate as part of Nordson's Adhesive Dispensing Systems segment.

Nordson is a $1.4 billion manufacturer of equipment for adhesive dispensing, industrial coating and semiconductor technologies.

The Kreyenborg deal brings Nordson new capacity to make pelletizers, used to make resin pellets in compounding, recycling and related processes. Also, the acquisition broadens Nordson's existing offerings of screen changers, pumps and valves for extrusion of plastics.

Nordson officials are building a plastics platform, through last year's acquisition of Xaloy Inc. the maker of screws and barrels, and flat die maker Extrusion Dies Industries. In 2011, the company bought the Verbruggen flat die business in Belgium, and Value Plastics Inc., a Colorado molder of medical fittings.

"These [Kreyenborg] businesses are highly complementary to our other recent acquisitions in the polymer processing space and fit our strategy of providing our customers with high-value, mission-critical melt stream components that will enhance the performance of their systems," Nordson President and CEO Michael Hilton said in a prepared statement.

The businesses will strengthen Nordson's relationships with key European customers and expand the product offering, he said.

Kreyenborg said production facilities of the two companies in Münster have been leased to Nordson for an initial 10-year term.

The deal does not include three other businesses of Kreyenborg Group: KPT Kreyenborg Plant Technology GmbH & Co. KG, BLS Integration GmbH & Co. KG and BSG Bruckmann Control GmbH. Management and ownership of those units, which employ 110 people, will remain unchanged.


Comments

Nordson buys Kreyenborg's polymer-related companies

By Bill Bregar
Senior Staff Reporter

Published: July 18, 2013 12:22 pm ET
Updated: July 18, 2013 7:01 pm ET

Post Your Comments


Back to story


More stories

Image

New medical firm buys Clairson Plastics

September 19, 2014 4:33 pm ET

Custom injection molder Clairson Plastics is being sold to a new start-up that plans to dive into the medical market with a new dialyzer, a key...    More

Image

Hong Kong's TK eyes expansion, may buy Nypro Tool operation

September 19, 2014 2:49 pm ET

Hong Kong-based mold maker and plastics processor TK Group (Holdings) Ltd. said it's reached a tentative agreement to buy a tooling factory in...    More

Exo-s buys injection and blow molder in Mexico, expands footprint

September 19, 2014 2:15 pm ET

Custom molder Exo-s Inc. has bought an injection and blow molding operation in San Juan del Rio, Querétaro, Mexico.    More

Image

Bayer spinning off plastics business

September 18, 2014 8:49 am ET

Bayer AG will spin off its MaterialScience plastics group into a separate, publicly-traded company within the next 12 to 18 months.    More

Image

Bill Kent named Thermoformer of the Year

September 18, 2014 12:11 pm ET

Bill Kent flew 6 million miles in a 50-year career at Brown Machine LLC — where he began assembling thermoforming machinery on the factory floor...    More

Market Reports

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook – North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events