Davis Standard completes extrusion acquisition; including Battenfeld-Cincinnati
US-based extrusion and converting machinery supplier Davis-Standard says it has completed the previously announced acquisition of Extrusion Technology Group (ETG), which was controlled by the Dutch investor Nimbus. Terms were not disclosed.
The acquisition includes three brands: US-based Battenfeld-Cincinnati, Exelliq (formerly known as Greiner Extrusion), and Simplas. These additions officially join the Davis-Standard family, marking a significant milestone in the company's strategic expansion.
With a history dating back to 1943, ETG supplies complete extrusion systems for the global pipe, profile, film and sheet industries in the US, Europe, Asia.
The firms will complement Davis Standard, especially Battenfeld-Cincinnati, which is a manufacturer of extruders and complete extrusion lines for a wide range of applications in the field of pipe, profile, sheet, thermoforming sheet and pelletising from a large portfolio of single and twin-screw extruders, dies, downstream equipment, calenders and calender feeders.
"We are thrilled to officially welcome battenfeld-cincinnati, exelliq, and Simplas to the Davis-Standard family. This strategic acquisition reinforces our dedication to providing cutting-edge solutions and comprehensive support to our customers across various industries," said Giovanni Spitale, CEO of Davis-Standard. "Together, we are well-positioned to drive innovation, enhance operational efficiency, and meet the evolving needs of the global extrusion and converting market."
Former ETG CEO and now President of ETG and member of Davis Standard Executive Leadership Team Gerold Schley stated, "We are delighted to embark on this new chapter as part of the Davis-Standard family of brands. The synergies between ETG and Davis-Standard present exciting opportunities for collaboration, innovation, and growth." Schley added, “We see numerous synergies that will allow us to integrate seamlessly, ensuring a smooth transition for customers of all brands."
Integrating these renowned brands into the Davis-Standard portfolio brings a wealth of knowledge, experience, and advanced technologies, it adds. Customers can expect an expanded product offering, increased service capabilities, and a broader geographical presence to serve their unique requirements better.
Davis-Standard says it “is enthusiastic about the opportunities that this acquisition creates for collaboration, innovation, and growth”.
Davis-Standard itself was sold to Gamut Capital Management in 2021by ONCAP, the mid-market private equity platform of Onex.
Gamut is a New York-based private investment firm managing in excess of US$3 billion in assets focused on the middle market. Founded in 2015, Gamut’s senior deal professionals have executed investments in over 50 companies in North America and Europe.
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