FRANCE – Hillenbrand, Inc. has entered into an agreement to acquire LINXIS Group from IBERIS INTERNATIONAL S.À R.L, an affiliate of IK Partners, and additional sellers for an enterprise value of approximately US$584 million.
LINXIS Group is a leading global provider of mixing, ingredient automation, and portioning solutions for food and other higher-growth end markets.
Upon completion of required works council consultations, the parties expect to enter into a definitive purchase agreement, with closing expected to occur before calendar year-end, subject to regulatory approvals.
LINXIS Group has six market-leading brands – Bakon, Diosna, Shaffer, Shick Esteve, Unifiller, and VMI – that serve customers in over 100 countries.
IK acquired Linxis from Equistone in 2017 and has transformed it through add-on acquisitions: Unifiller in 2018 and Laramore (now a Shick Esteve company), Bakon and Shaffer in 2021.
Coupled with strategic product development, cross-selling capabilities and the introduction of an operational excellence program, Linxis Group’s acquisition trajectory has created significant growth through global expansion.
With a global footprint and headquarters in Nantes, France, LINXIS Group specializes in the design, manufacturing, and service of dosing, kneading, mixing, granulating, drying and coating technologies that are complementary to the equipment and solutions offered under Hillenbrand’s Coperion brand.
The group expects the calendar year 2022 revenue of approximately €300 million (US$ 306.54 million) with mid-teen EBITDA margins.
“LINXIS Group will continue to build upon our profitable growth strategy by further strengthening and accelerating our position in the attractive food end market and enhancing the technical capabilities of our products and service offerings,” said Kim Ryan, President and CEO of Hillenbrand.
“By leveraging the combined capabilities of our Coperion brand and the LINXIS Group brands, we will be able to offer more comprehensive processing solutions, creating significant value for our customers.
“Through cross-selling opportunities in key geographies, the deployment of the Hillenbrand Operating Model, and utilization of our scalable foundation, we expect this acquisition to deliver compelling long-term shareholder value.”
Upon completion of this transaction, LINXIS Group and its over 1,000 global employees operating in ten manufacturing facilities will join its Coperion and Rotex brands as part of Hillenbrand’s Advanced Process Solutions (APS) segment.
The APS segment provides highly engineered industrial equipment and systems and aftermarket parts and services for a variety of end markets and applications.
Hillenbrand expects to use committed debt financing, cash on hand, and cash available under its revolving credit facility to fund this acquisition.
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