Halex Holding sells its extrusion dies division “Halex Extrusion Dies” to the Canadian Exco Technologies Limited.
Halex Holding GmbH, Aldenhoven, sells all shares in the business unit Halex Extrusion Dies with a total of two locations in Germany and three locations in Northern Italy. The buyer is the Canadian Exco Technologies Limited. Exco Technologies Limited, a global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries, announced it has signed a definitive agreement to acquire the extrusion dies business of Halex Holdings GmbH. The transaction is expected to close in the spring of 2022.
Leading manufacturer of aluminium extrusion dies in Europe
Halex Extrusion Dies was founded in 1990 and operates four key manufacturing locations – two in Germany and two in the northern industrial region of Italy. The company is the second largest manufacturer of aluminium extrusion dies in Europe and the continent’s leading supplier of complex extrusion dies. Halex will complement Exco’s six existing extrusion die operations, located in Canada, USA (2), Mexico, Colombia and Brazil.
Acquisition of Halex Extrusion Dies supports Excos growth strategy
“This acquisition will provide us with well-established and high-quality operations, manufacturing complex extrusion dies in Europe and will also allow us to better support our global customers”, said Nick Gnatyuk, Vice President and General Manager of Exco’s Extrusion Group. “We have been looking to expand into Europe for some time and we see Halex as the perfect fit”.
The transaction is valued at 40 m EUR (USD 58 m equivalent) on an enterprise value basis and will be funded with a combination of cash on hand and available bank lines. Halex will add almost 40 m in annual sales and is expected to be immediately accretive to Exco’s earnings per share. Exco will report the results of Halex within its Casting and Extrusion segment.
“The acquisition of Halex is a unique opportunity to add a strategic asset that will accelerate Exco’s growth and sustainability objectives”, said Darren Kirk, President and CEO of Exco. “We look forward to welcoming all Halex employees to Exco”.
Exco Technologies Limited is a global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries. The company employs around 4,900 people at 16 locations in 7 countries and serves a diverse and broad customer base.