Ringmetall has signed an agreement to purchase Turkey-based Makplast Makine Plastik Sanayi ve Ticaret, a producer of liners for industrial packaging.
The deal, the financial terms of which were undisclosed, will be completed through a share purchase.
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Makplast manufactures liners used in various types of liquid packaging for sectors such as food and beverages. Through this deal, Ringmetall aims to increase its presence in Turkey and reinforce its liner business segment.
The acquisition aligns with Ringmetall’s strategy to grow existing business areas through targeted company purchases. Funding for the transaction will be provided using pre-arranged credit facilities.
Makplast currently employs 45 people and reports annual revenues in the mid-single-digit million range, alongside what has been described as an above-average EBITDA [earnings before interest, taxes, depreciation, and amortisation] margin.
Integration into the Ringmetall Group is expected to proceed over the next several months.
Ringmetall CEO Christoph Petri said: “The acquisition of Makplast is another logical step in our buy and build strategy.
“With Makplast, we are gaining an excellently positioned liner specialist and at the same time strengthening our market position in Turkey, a strategically important growth market for us at the crossroads between Europe and Asia. Such acquisitions form the basis for sustainable, high-margin growth.”
In the previous year, Ringmetall acquired a stake in Evopack, a start-up from Stuttgart, Germany, that focuses on industrial packaging solutions. Evopack has developed a packaging product intended for applications in the paint and coatings sector.
Operating under the product name “Boxli 1000”, Evopack offers a bag-in-box system capable of storing liquids, water-based paints, and granulates, with a capacity of 1,000 litres.
