Hillenbrand grows in recycling equipment space
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Batesville-based Hillenbrand Inc. (NYSE: HI) has entered into a definitive agreement to acquire Herbold Meckesheim GmbH, a recycling equipment manufacturer in Germany, for approximately $82 million. Hillenbrand says the purchase of the European equipment maker accelerates its growth in the recycling end market.
Herbold manufactures systems that wash, separate, dry and shred a variety of recyclable materials. The Ripley County company says Herbold’s products are complementary to Hillenbrand’s Coperion brand of equipment.
“Herbold expands our position in the recycling end market, which has attractive, long-term growth prospects due to macro demand drivers for durable plastics and the desire for more sustainable solutions,” said Kim Ryan, president and chief executive officer of Hillenbrand. “Together, we will be able to offer complete recycling solutions to our customers. Finally, we expect to enhance Herbold’s performance through the deployment of the Hillenbrand Operating Model and utilization of our global sales and service capabilities.”
The company expects the transaction to close during the fourth quarter of 2022, subject to regulatory approval and customary closing conditions.