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M&A Wrap-Up: Hurco, IPPT, Techmer PM Make Big Purchases

A number of manufacturers have announced large-scale acquisitons in recent days. Here's a breakdown of some of the more significant ones, including news from Hurco Companies, Inc., International Process and Packaging Technologies GmbH and Techmer PM.

(Manufacturing.net) β€” A number of manufacturers have announced large-scale acquisitons in recent days. Here's a breakdown of some of the more significant ones:

Hurco Companies, Inc.

Hurco Companies, Inc. has announced today that it has acquired the machine tool component business of LCM Srl, which is based in Italy. LCM has been producing mechanical and electro-mechanical components for machine tools since 1986, and according to Hurco, has a number of technical experts on staff with knowledge in the design of direct drive electro-mechanical and torque technologies, in addition to quality control processes.

Mr. Gregory Volovic, President of Hurco Companies, Inc., said, "This strategic acquisition of an innovative business such as LCM further supports our mission to develop advanced machine tool technologies to support our customers, who need increasingly sophisticated and versatile CNC machine tools to stay competitive and to grow profitability. LCM has been an important supplier of components for us as we developed and introduced our SRT line of 5-axis machining centers that employs LCM's direct drive spindle, swivel head, and rotary torque table to achieve superior simultaneous 5-axis machining. This acquisition will prove vital to our targeted growth plan, which supports the financial strength of our company, ensures product development agility, and will foster an expansion of LCM's line of high-quality value-added technologies."

Hurco Companies, Inc. designs and produces interactive computer controls, software and computerize machine tools. it is based in Indianapolis, Indian, but maintains manufacturing operations in Taiwan, China and Italy.

International Process and Packaging Technologies GmbH (IPPT)

IIPT has announced today its purchase of Kilian GmbH & Co. KG., which is an international supplier of tablet press machines based out of Cologne, Germany. The acquisition's completion is dependent upon the approval of anti-trust authorities, but officials from both companies are confident the transaction will be concluded in late summer 2013. Once completed, Kilian will become a sister company of the Romanco Group, which is a IIPT subsidiary.

Kilian reported sales of approximately €45 million in 2012, with products used in the pharmaceutical, food and chemical industries. It was established as a family-owned business in 1975 and moved to Cologne after World War II. The company has seen rising demand for equipment from European OEMs due to rising demand for pharmaceuticals in Asia, Eastern Europe and South America. It currently employes 150 at its Cologne headquarters.

Of the acquisition, Paulo Alexandre, CEO of IPPT said in a statement: "Kilian is a seasoned company and a leader in the field of tablet press technologies. It has an excellent reputation in key pharmaceutical and food production markets around the globe. Pharmaceuticals and food in general are characterized by stable growth, which is significantly stronger in the emerging countries. Our acquisition of Kilian will enable us to extend the Romaco Group’s portfolio of machinery and services with an important new segment in solid dose applications, giving a crucial boost to our growth strategy."

Techmer PM

Techmer PM has announced the acquisition of TP Composites (TPC), which will be merged into its engineered compounds business. TPC was founded in 1994 and is currently based in Aston, Pa., and is a custom formulator and engineered plastics manufacturer. Once the acquisition is completed, TPC will be wholly owned by Techmer PM and operate under the Techmer Engineered Solutions (TES) unit.

John Manuck, chairman and CEO of Techmer PM, said, β€œTP Composites is a great fit for our engineering compounds business, which we continue to develop with our long-time partner Mitsui Plastics, Inc., and is another key step in our growth initiative for the TES business. TP
Composites brings an array of complementary products and talented personnel to our existing
TES group.”

TES also operates in Clinton, Tenn., and Rancho Dominguez, Calif. All existing TPC managers and other personnel will join TES and continue to work out of the facilities in Aston, Pa. No existing facilities will be closed β€” TPC will act as an addition to the TES footprint.

 


Correction: An updated version of this piece clarifies that no TPC facilities will be closed in the transaction.

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