Exco Technologies Limited, a global supplier of innovative technologies for the extrusion, die-cast, and automotive industries, signed a definitive agreement to acquire Halex® Extrusion Dies from Halex Holdings GmbH for €40 million (US$45.7 million equivalent).
“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.”
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 aluminum 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, the U.S., Mexico, Colombia, and Brazil. The company will add almost €40 million in annual sales and is expected to be immediately accretive to Exco’s earnings per share.
“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.”
Timo Röskes, CFO of Halex Holding GmbH, added, “Integrated into the new corporate structure, the Halex Extrusion Dies division can continue its road to success and, together with the new owner, continue to invest in employees, production capacities, and new technologies.”
The transaction is expected to close in the spring of 2022.