HEXPOL has recently acquired 100 percent of the Berwin Group Ltd from present shareholders. Berwin has more than 60 years’ experience of rubber compounding in the U.K. market.
"The acquisition is a very good complement to HEXPOL Compounding in Europe and broadens and strengthens our presence with Rubber Compounds in the UK market," said Ralph Wolkener/Carsten Rüter, President of HEXPOL Compounding Europe. "Berwin expands our capabilities and capacities to serve our customers in a more efficient way."
Berwin Group, with manufacturing facilities in Manchester, U.K. and in Gloucestershire, U.K., has an estimated annual turnover of around $58 million and has around 200 employees.
"This is a further step in expanding and strengthening the HEXPOL Group with a further acquisition within our core business. Berwin, with its competence and capabilities, will fit nicely into the HEXPOL Group and gives us a stronger U.K. presence," said Georg Brunstam, HEXPOL Group CEO.
The acquisition price is estimated to approximately $36 million on a cash and debt-free basis.
