Monday 30 September 2019, 17:42
Hydratec intends to acquire a majority interest in Stork Plastics Machinery BV and Rollepaal Holding BV
Hydratec Industries NV is engaged in advanced discussions with financial services company Wadinko (Zwolle) about the acquisition of a 75% interest in Stork Plastics Machinery BV (Hengelo) and Rollepaal Holding BV (Dedemsvaart).
Stork Plastics Machinery (Stork IMM) has been a Dutch producer of injection moulding machines for more than 50 years. Stork IMM specialises in machines for the fast and precise production of thin-walled products for various industries, including the food industry. Stork IMM has branches in Hengelo (NL) and Meinerzhagen (DE) and employs a total of approximately 150 people.
Rollepaal’s core activity is the development, manufacture, assembly and global sale of equipment for the production of strong, lightweight PVC pipes. In addition, the company produces high-quality injection moulds for pipe fittings. Furthermore, the company produces machined parts that are supplied to third parties. Rollepaal Holding has branches in Dedemsvaart (NL), Ahmedabad (IN) and Baltimore (USA) and employs a total of approximately 230 people.
The total annual revenue of both companies combined is approximately €75 million.
Bart Aangenendt, CEO of Hydratec:
“This plan perfectly dovetails with Hydratec Industries’ growth ambitions. Both machine manufacturers have many years of experience and are genuine specialists in their respective niche markets. This represents a significant expansion of Hydratec Industries’ Systems activities.”
René Wolfkamp, Managing Director Wadinko:
“Wadinko is pleased to partner with Hydratec Industries that with its experience is able to contribute to the structural growth of both organisations.”
A request for advice has been submitted to both works councils. In addition, the planned transaction will be presented to the Extraordinary General Meeting of Shareholders for approval.
Financial services company Wadinko’s objective is to stimulate economic activity and employment in the Province of Overijssel, in the Noordoostpolder in the Province of Flevoland and in the South-western part of the Province of Drenthe. Wadinko does this by taking substantial minority interests in companies with risk-bearing capital, knowledge, management support and networks. The companies in which Wadinko participates have plenty of development options and growth potential. Due to the growth of profitable activity they contribute to a considerable degree to promoting the region’s economic structure.