Ringmetall acquires manufacturers of Round Bottom Liners and Form Inliners
Munich, 28 November 2018
The Management Board of Ringmetall AG today reached an agreement on the takeover of Nittel Halle GmbH from the owner of the company. Based in Halle an der Saale, Germany, the company manufactures a total of more than 4,000 different types of inner casings for industrial drums, in particular Round Bottom Liners and Form Inliners. Currently, the company produces around 10 million inner linings per year, generating annual sales of around 13 million euros with approximately 140 employees. The EBITDA margin is slightly below the Group level of the Ringmetall Group.
In addition to the production site in Halle and the sales location in Raunheim, Ringmetall AG also acquires shares in the foreign companies in France (Nittel SARL, 80%), the Netherlands (Nittel BV, 50%) and the UK (Nittel UK Ltd, 50%).
The involved parties have agreed not to disclose the amount of the purchase price. The Management Board of Ringmetall AG assesses the acquisition of Nittel as an initial acquisition in a related area of the current product portfolio. The company will short-term be fully integrated into the Industrial Packaging division. Investments in the further growth of Nittel as well as further acquisitions of companies with similar positioning are planned.