Hillenbrand, Inc. (NYSE: HI) announced it has completed the acquisition of Herbold Meckesheim GmbH (Herbold) for an enterprise value of approximately €79 million.
"The successful completion of the Herbold Meckesheim acquisition is another meaningful step that delivers on our commitment to grow as a world-class industrial company, execute our strategy to deliver long-term shareholder value, and accelerate our efforts to support a more sustainable future," said Kim Ryan, President and CEO of Hillenbrand. "By leveraging Herbold's key technologies, we have an opportunity to strengthen our leadership position in the recycling industry and expand our offerings across the entire recycling value chain."
Based in Meckesheim, Germany, Herbold is a leader in recycling systems, specializing in key process steps such as washing, separating, drying, shredding, and pulverizing. With annual revenue of more than €50 million, Herbold is highly complementary to the equipment and solutions offered under the Coperion brand.