Nordson Selling Screw, Barrel Business
Private equity firm Altair expects to close on acquisition during the first quarter of next year.
Nordson Corp. has agreed to sell the screws and barrels product line from its polymer processing systems (PPS) division to Altair Investments. In an press release, Nordson said the divestiture is “consistent with its strategy to drive profitable growth through highly differentiated products serving attractive end markets.” Nordson’s global screws and barrels business generates more than $70 million in annual sales and employees 500.
Sundaram Nagarajan, Nordson president and CEO, said, “We are focusing our resources on precision technology solutions that will deliver profitable growth for the company. Our screws and barrels product line is a respected market leader in the polymer processing industry. While this product line no longer fits Nordson’s strategic focus, we believe it will do well with Altair.”
Altair Investments Inc. is a Chicago-based private equity firm focused on investing in niche manufacturing companies Its most recent acquisitions include NVEyeTech and Marathon Boat Group.
Nordson and Altair anticipate closing the transaction in the first quarter of fiscal 2021.
Related Content
-
Extreme Coatings Names Jackson Director, North American Sales
Company also extends its global manufacturing footprint.
-
Improve Production Rates Via Screw Design — Barrier vs. General Purpose vs. Melt Uniformity
I’m looking for a few good molders to help trial a new screw design, and share data and results for a future article to prove the benefits of a melt uniformity screw.
-
Globeius Offers Tecnocanto Vacuum Burnoff Ovens To Remove Plastics from Molds, Dies and Screws
Globeius now carries Tecnocanto vacuum burnoff ovens, which remove plastic residue without open flames.
