Exco Technologies to acquire extrusion dies business of Halex Holdings GmbH

On 20^th December 2021, the Canadian global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries, Exco Technologies Limited, publicized that it has inked a definitive agreement to acquire the extrusion dies business of Halex Holdings GmbH (“Halex ® Extrusion Dies”). However, the transaction is expected to conclude in the spring of 2022.

Nick Gnatyuk, Vice President and General Manager of Exco’s Extrusion Group, said: “This acquisition will provide us with well-established and high-quality operations, manufacturing complex extrusion dies in Europe and will also allow us to better support our global customers.”

“We have been looking to expand into Europe for some time and we see Halex as the perfect fit."

In 1990, Halex Extrusion Dies initiated its journey and functionalized four key manufacturing locations, out of which two in Germany and the rest two in the northern industrial region of Italy.

Halex Extrusion Dies is the second-largest producer of aluminium extrusion dies in Europe and the leading supplier of complex extrusion dies. Halex will supplement Exco’s six existing extrusions die operations, located in Canada, USA (2), Mexico, Colombia and Brazil.

Exco’s transaction for acquisition is valued at €40 million (C$58 million equivalent) on an enterprise value basis and will be financed with a combination of cash on hand and available bank lines. Halex will add almost €40 million in annual sales and is anticipated to be immediately accruing to Exco’s earnings per share, while Exco will report the results of Halex within its Casting and Extrusion segment.

Darren Kirk, the President and CEO of Exco said: “The acquisition of Halex is a unique opportunity to add a strategic asset that will accelerate Exco’s growth and sustainability objectives. We look forward to welcoming all Halex employees to Exco”.