Exco Technologies has closed its acquisition of the extrusion dies business of Halex Holdings, an Aldenhoven, Germany-based industrial group. The deal is valued at €40 million ($42 million). Halex was acquired in 2018 by Bencis Capital Partners, a European private equity firm. Based in Toronto, Exco is a supplier of technologies to the die-cast, extrusion and automotive industries.
TORONTO, May 02, 2022 (GLOBE NEWSWIRE) — Exco Technologies Limited (TSX-XTC, OTCQX-EXCOF) a global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries, today announced it closed the acquisition of the extrusion dies business of Halex Holdings GmbH (“Halex® Extrusion Dies”) effective Monday May 2, 2022.
Halex Extrusion Dies was founded in 1997 and operates four key manufacturing locations – two in Germany and two in the northern industrial region of Italy. The company is the second largest manufacturer of aluminium extrusion dies in Europe and the continent’s leading supplier of complex extrusion dies. Halex will complement Exco’s six existing extrusion die operations, located in Canada, USA (2), Mexico, Colombia and Brazil.
As previously announced on December 20, 2021, the transaction is valued at €40 million on an enterprise value basis and was funded with a combination of cash on hand and available bank lines. Halex will add approximately €40 million in annual sales and is expected to be immediately accretive to Exco’s earnings per share. Exco will report the results of Halex within its Casting and Extrusion segment.
About Exco Technologies Limited:
Exco Technologies Limited is a global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries. Through our 20 strategic locations in 9 countries, we employ about 5,000 people and service a diverse and broad customer base.