Davis-Standard to acquire Extrusion Technology Group

Davis-Standard, LLC announced that it had reached a definitive agreement to acquire the Extrusion Technology Group (ETG) from entities controlled by the Dutch Investor Nimbus. The acquisition is subject to customary closing conditions.

Davis-Standard reached agreement to the acquisition of ETG.

ETG is a supplier of extrusion equipment and downstream processing equipment, in addition to extensive tooling, dies, spare parts, and service capabilities, for the global pipe, profile, film and sheet markets. Its operations span Europe, the US, and Asia and includes long-established and storied brands, such as Battenfeld-Cincinnati, Exelliq and Simplas.

Giovanni Spitale, CEO of Davis-Standard, commented that the acquisition of ETG would be highly complementary and diversifying to the fast-growing Davis-Standard. The company intended to establish the ETG business as a standalone segment that continue to serve its base of customers with additional support and capabilities from Davis-Standard platform.

“This merger is a great outcome that we believe will create a best-in-class, diversified global supplier of highly engineered extrusion equipment,” added Gerold Schley, CEO of ETG, who will join the Davis-Standard senior leadership team and continue to manage the ETG business after closing of the transaction.

Terms of the transaction were not disclosed.