Hexpol completes 70% acquisition of recycled polymer compounder

Krefeld, Germany - Hexpol AB has completed the acquisition of a 70% stake in German recycled polymer compounder almaak, for approximately €70 million.

Based in Krefeld, the company was previously owned by Olaf Eichstädt and Thomas Schmeinta, who will continue to serve as almaak’s CEOs.

In a statement 4 April, Hexpol said the purchase was in line its M&A strategy which seeks to grow in thermoplastic compounding and ‘high recycled-content’ speciality engineered polymers.

“Furthermore, the acquisition strengthens our market position in Europe,” said Georg Brunstam, group CEO.

Almaak employs 190 people across two production facilities in Germany, and reported sales of €75 million in 2021.

Described as “specialist in high quality recycled engineered polymer compounds,” almaak mainly supplies to the European automotive industry.

According to its website, almaak produces 60 kilotonnes per annum of technical thermoplastics, including polyamides, polycarbonate and polypropylene at manufacturing plants in Krefeld and Doberlug-Kirchhain.