Coperion joins Hillenbrand stable with K-Tron, Rotex
Hillenbrand, the parent company of auxiliary equipment maker K-Tron International and Rotex Global has now inked a deal to buy compounding extruder maker Coperion in a move to create a supplier system it believes will become a major force in a growing North American polymer industry. Complete designs that include both K-Tron and Coperion products can win a key spot in operations being built in the US to take advantage of new natural gas supplies from hydraulic fracturing and horizontal drilling, Hillenbrand CEO Kenneth Camp said. At the same time, Rotex’s screening and material-separation equipment is used widely in the oil sands operations of the northern US and Canada. Hillenbrand expects to complete the deal in December or January, buying Coperion from Deutsche Beteiligungs of Frankfurt, Germany. Hillenbrand will pay €408m, which includes an assumption of €76m in debt and €100m in pension liability. P&M Corporate Finance was a financial adviser to Hillenbrand during the transaction and Skadden, Arps, Slate, Meagher & Flom was the legal adviser. Coperion will become the largest company in Batesville-based Hillenbrand’s Process Equipment Group, which also includes K-Tron and Rotex. Gunter Bachmann, currently Coperion’s CEO, will continue as president of Coperion, which will retain its headquarters in Stuttgart, Germany. For the 12-month period ended 30 September, Coperion’s revenue was €520m, Hillenbrand officials said.