Matthews International Corporation to acquire German-based engineering firms OLBRICH GmbH and R+S Automotive GmbH for € €43 million (approximately US$ 45 million).
OLBRICH and R+S Automotive have combined annual revenues of over $100 million. Headquartered in Bocholt, Germany, OLBRICH is a production and intelligent equipment manufacturer specializing in purpose-built rotary processing equipment, including equipment used in the manufacturing of dry and wet electrodes for lithium-ion batteries and components for hydrogen fuel cells used in electric vehicles, with additional strong positions in Specialty & Pharma, Packaging and Home & Décor.
R+S Automotive is a speciality engineering services provider of automation, plant and tooling concepts for automotive manufacturing companies around the world.
Joseph C. Bartolacci, President and CEO of Matthews International, said, “We are extremely excited to announce the acquisitions of OLBRICH and R+S Automotive as part of our long-term strategy to provide turn-key processing equipment and services for the burgeoning electric vehicle business.”
Gregory S. Babe, CTO of Matthews International, said, “Our combined engineering capabilities provide an extension of the full Saueressig Group portfolio, including battery and fuel cell component production, converting lines, coating, drying, web and roll handling and Automated Guided Vehicles (AGV) integration, and enhances our global expansion into broader global markets.”
Bastian Kuhl, CEO of OLBRICH and R+S Automotive, said, “These are the best prerequisites for effectively combining our competencies in the fields of converting and automation hence successfully addressing future business fields such as new energies or “green packaging” together.”