Albany International, headquartered in Rochester, New Hampshire, has acquired the Düren, Germany-based Heimbach Group for €132 million in cash and assumed net debt of approximately €22 million.

Heimbach is a global supplier of paper machine clothing (PMC) for the production of all grades of paper, pulp and cardboard, as well as technical textiles used in a variety of sectors such as the food processing, chemicals, construction materials and automotive industries, with nine production plants in Europe and Asia.

“We are excited about the opportunities to create additional value for our shareholders and customers through the increased scale, complementary technologies and broader geographic footprint this transaction provides,” said Daniel Halftermeyer, president of Albany’s Machine Clothing business. “Together we will effectively combine the strengths of each company to set a new standard in customer value delivery as the industry’s partner-of-choice.”

“In Albany International, we found a like-minded partner who shares our commitment to best-in-class customer service and advancing modern paper production,” added Heimbach CEO Marco Esper. “Together, we will leverage our collective product and technology portfolios to become an even better provider to our customers. I’m incredibly proud of everything that Heimbach and our team have accomplished and look forward to working closely with Albany’s leadership to reach even greater success.”

Albany International has 23 plants in 11 countries and generates a turnover of over $1 billion with around 4,200 employees. Heimbach will contribute an annual turnover of €160 million and 1,200 employees.

www.albint.com