German extrusion machine builder Battenfeld-Cincinnati has a new owner. The company, whose U.S., operation is in McPherson, Kan., has announced that it's been acquired by Industrie Holding Nimbus, a venture capital group with offices in Germany and the Netherlands.
In a prepared statement, Battenfeld-Cincinnati said the move will give it access to "new financial resources and equity capital." Terms of the transaction were not disclosed.
Battenfeld-Cincinnati supplies complete extrusion lines for pipe, profile and sheet. In the U.S., the company had been known as American Maplan.
"After our successful organizational restructuring in the middle of last year, we can now focus on further product developments and investments that will strengthen and expand our market leadership with Nimbus’ support,“ said Gerold Schley, CEO of the battenfeld-Cincinnati group. “We are delighted to have a new investor in Nimbus that will actively support and advance the new developments and growth plans of the Battenfeld-Bincinnati group.“
Added Ed van Dijk, a partner at Nimbus. “Nimbus invests in companies that have a healthy core. At Battenfeld-Cincinnati this core is the technical know-how and the quality of the team , whether we are in Europe, Asia or America. We were sure we wanted to work together with battenfeld-cincinnati from day one.“