Brentwood Industries Inc. sees the acquisition of Enexio Water Technologies as a way to not only broaden the company's geographic reach but also expand the company's plastics processing expertise.
Reading, Pa.-based Brentwood has built a business primarily using PVC to make products used in cooling towers, water treatment, stormwater management, medical, construction and batteries. Thermoforming is the main processing technology.
Enexio Water Technologies, based in Germany, now brings an expertise in similar polypropylene products to the combined operations, said Aubrey Detterline, marketing manager for Brentwood.
Key markets for Enexio products include water, wastewater, cooling towers and exhaust air treatment.
"There's a lot of overlap between these two businesses. We offer things to Enexio Water Technologies that help them out and they offer things to Brentwood that do the same thing," she said. "Most of what we process is PVC. Enexio Water Technologies brings the competency of polypropylene processing to Brentwood."
Acquired locations include a manufacturing plant in Wettringen, Germany, an assembly location in Decin, Czech Republic, and sales offices in Hurth, Germany, and Blisworth, England. A joint venture manufacturing site in Shandong, China, also is part of the deal.
"The synergies of products and staff will better position us to serve our customers around the globe," Brentwood CEO Peter Rye said in a statement.
The acquisition from Kelvion Holding GmbH of Bochum, Germany, allows Brentwood to expand the company's efforts in Europe.
"They help to propel us into that market for a couple of our different verticals. We'll be able to introduce stormwater management products to that market, build upon our cooling tower and wastewater markets over there in Europe," Detterline said.
Brentwood was in conversations with Enexio for a little over a year before the deal closed Jan. 3.
"We wanted to be a true integration of these two businesses. We didn't want there to be any fear or anxiety on the Enexio Water Technologies side. We are maintaining all of their facilities, all of their employees. We wanted to take the time to do it right and make sure that everyone felt good about it," Detterline said.
Brentwood, with about 670 employees prior to the purchase, adds another 110 to 120 employees through Enexio, she said.
"It adds competencies. It adds new products. It adds new markets for us and also just adds just more boots on the ground greater sales presence, greater engineering presence across the globe. We already had somewhat of a presence in Europe, but it think this is really going to solidify Brentwood in the European market," Detterline said.
Terms of the deal were not disclosed by Brentwood. Kelvion is owned by investment firm Triton Partners.