Albany International Enters Definitive Agreement To Acquire Heimbach Group For €153M
Portfolio Pulse from Happy Mohamed
Albany International Corp. (NYSE:AIN) has entered into a definitive agreement to acquire Heimbach Group, a leading supplier of paper machine clothing, for €153 million. The acquisition is expected to close in the second half of 2023 and will provide Albany with increased scale, broader geographic footprint, complementary technologies, and significant margin expansion opportunities.
June 14, 2023 | 12:01 pm
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Albany International's acquisition of Heimbach Group will provide increased scale, broader geographic footprint, complementary technologies, and significant margin expansion opportunities.
The acquisition of Heimbach Group will enhance Albany International's scale and geographic footprint, particularly in central European and Asian markets. It will also provide complementary technology and operational opportunities that are expected to drive margin expansion in Heimbach's operations. This is likely to have a positive short-term impact on Albany International's stock price.
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