Matthews International acquires OLBRICH GmbH and R+S Automotive GmbH
Matthews International Corporation (NASDAQ GSM: MATW), which also includes the SAUERESSIG Group headquartered in Vreden, Germany, signed an agreement to acquire the mechanical engineering and tooling division of Borgers SE & Co. KGaA. The acquisition consists of the companies OLBRICH GmbH (“OLBRICH”) and R+S Automotive GmbH (“R+S Automotive”), headquartered in Bocholt, North Rhine-Westphalia.
OLBRICH is a production and intelligent equipment manufacturer, specializing in purpose-built rotary processing equipment, including equipment used in the manufacturing of dry and wet electrodes for lithium-ion batteries and components for hydrogen fuel cells used in electric and hydrogen vehicles, with additional strong positions in Specialty & Pharma, Packaging and Home & Décor. R+S Automotive is a specialty engineering services provider of automation, plant and tooling concepts for automotive manufacturing companies around the world.
Strategic investment in the growing energy market
Joseph C. Bartolacci, President and Chief Executive Officer of Matthews International, stated, “We are extremely excited to announce the acquisitions of OLBRICH and R+S Automotive as part of our long-term strategy to provide turn-key processing equipment and services for the burgeoning electric vehicle business. We see our combined capabilities as a unique offering that will have significant impact on the electric vehicle business and benefit the entire energy solutions industry. Together, these acquisitions are an important investment and part of a buying strategy towards being a key player in the fast-growing energy sector.”
Gregory S. Babe, Chief Technology Officer of Matthews International, continued, “Our combined engineering capabilities provide an extension of the full SAUERESSIG Group portfolio, including battery and fuel cell component production, converting lines, coating, drying, web and roll handling and Automated Guided Vehicles (AGV) integration, and enhances our global expansion into broader global markets. This strategic acquisition continues our investment in technologies and accelerates commercializing new innovations and combined capabilities across multiple automotive, surfaces and industrial automation applications.”
Together shaping the markets of tomorrow
“With Matthews International, we have not only gained a strategic investor, but at the same time a partner for the OLBRICH Group that has an excellent international reputation,” explains Bastian Kuhl, CEO of OLBRICH and R+S Automotive. “In addition, we share common values and goals. These are the best prerequisites for effectively combining our competencies in the fields of converting and automation hence successfully addressing future business fields such as new energies or “green packaging” together. We look forward to implementing our growth strategy in the future as part of the Matthews Group.”
OLBRICH and R+S Automotive have combined annual revenues in excess of $100 million. The agreement to acquire the Olbrich Group for a purchase price of USD 45 million (around EUR 43 million) was signed, Monday, June 20, 2022, after which the employees were informed by the contractual partners. The closing of the transaction is subject to certain regulatory authority approvals, which is expected to be timely secured in July of 2022.
About Matthews International Corporation
Matthews International Corporation is a global provider of industrial technologies, memorialization products and brand solutions. The Industrial Technologies segment designs, manufactures, services and distributes high-tech custom energy storage, marking, coding and industrial automation technologies and solutions. The Memorialization segment is a leading provider of memorialization products, including memorials, caskets and cremation and incineration equipment, primarily to cemetery and funeral home customers that help families move from grief to remembrance. The SGK Brand Solutions segment is a leading provider of packaging solutions and brand experiences, helping companies simplify their marketing, amplify their brands and provide value. The Company has approximately 11,000 employees in more than 26 countries on six continents that are committed to delivering the highest quality products and services.
About SAUERESSIG Group
SAUERESSIG Group brings together the business units packaging, elastomers, surfaces, engineering, rollers and e.GEN under a common umbrella brand. As a leading international supplier along the pre-press stage as well as of rotary tools for gravure and flexographic printing processes, embossing rollers and cutting and creasing tools, SAUERESSIG Group offers a comprehensive expertise. SAUERESSIG works on forward-looking research projects and invests in the development of intelligent workflows and digital solutions. As an innovator for special machine construction in the field of futureoriented battery and energy storage technology, individual solutions are developed for pioneers of tomorrow. Brand manufacturer, printers and converters as well as renowned manufacturers of modern energy storage technologies benefit from solution-oriented innovations, decades of experience and maximum flexibility. Within currently 13 production sites SAUERESSIG Group has a strong global network. Worldwide presence enables an optimal development, implementation and support of international projects at any time.
SAUERESSIG Group is part of Matthews International Corporation (NASDAQ GSM: MATW).
OLBRICH GmbH was founded in 1949 and together with its brand Polytype Converting®, the machine builder has today become one of the world’s leading companies in the field of production machinery and equipment for the manufacture of web-shaped products. Battery foils, labels, release materials, sustainable paper and packaging materials as well as wallcoverings, floorcoverings, adhesive tapes and technical textiles are exemplary products manufactured on the lines. OLBRICH has a full value chain including engineering and manufacturing as well as state-of-the-art technical centers in Bocholt (DE) and Fribourg (CH). Today, OLBRICH has approximately 450 employees. OLBRICH is headquartered in Bocholt (DE) and has additional locations in Hamburg (DE), Fribourg (CH) and Jiangyin City (CN).
About R+S Automotive
R+S Automotive GmbH is an important manufacturer of machines and tools for the production of interior and exterior components for the automotive industry, such as door panels, dashboards or rear shelves. R+S Automotive has a fully integrated value chain including engineering and production as well as a technical center on an area of 1,100 sqm designed to support comprehensive technical services and customer-oriented development. Today, R+S Automotive has approximately 350 employees. R+S Automotive is headquartered in Bocholt (DE) and has additional subsidiaries in Holoubkov (CZ), Jiangyin (CN), and Comstock Park, MI (USA).
Head of Brand & Marketing
Matthews International Corporation
William D. Wilson
Corporate Development and Investor Relations
Telefon: + 1 412 325 8418
Further information on the companies can be found at the following links:
Matthews International: www.matw.com
SAUERESSIG Group: www.saueressig.com
Borgers Gruppe: www.borgers-group.com
R+S Automotive: www.rs-automotive.com