Albany International Boosts Paper Machine Clothing Portfolio with €153M Heimbach Acquisition
Portfolio Pulse from Akanksha Bakshi
Albany International Corp (NYSE:AIN) has agreed to acquire Heimbach Group for €153 million in cash, including €21 million net debt. Heimbach is a global supplier of paper machine clothing with nine production facilities across multiple countries. The acquisition is expected to be accretive to Albany's earnings per share and cash flow beginning in year two and close in the second half of 2023.
June 14, 2023 | 4:20 pm
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POSITIVE IMPACT
Albany International's acquisition of Heimbach Group will expand its paper machine clothing portfolio and global footprint, with the deal expected to be accretive to earnings and cash flow from year two.
The acquisition of Heimbach Group will expand Albany International's paper machine clothing portfolio and global footprint, providing increased scale and complementary technology. The deal is expected to be accretive to Albany's earnings per share and cash flow beginning in year two, which is a positive signal for investors. This news is highly relevant and important for AIN shareholders, and the confidence in the analysis is high.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100