Precision technology solutions provider Nordson has completed the previously announced acquisition of EDI Holdings, a slot coating and flat polymer extrusion dies provider, for $200m. The agreement was originally announced on 21 May 2012.
Following the acquisition, EDI, which has additional operations in Cologne, Germany and Shanghai, China, will operate as part of the US-based Nordson’s Adhesive Dispensing Systems segment.
The company’s operations include its March 2012 acquisition of Premier Dies that expands EDI’s product and technology offering.
Nordson president and CEO Michael Hilton said EDI participates in the growing global plastics processing equipment industry, and it fits in with the company’s strategy of acquiring companies that provide differentiated precision technology at a key part in the supply chain.
"In addition, EDI complements Nordson’s existing extrusion die product line, providing scale, product breadth and geographic reach to the Verbruggen platform," Hilton added.
The purchase price is subject to adjustment as provided in the agreement and will be financed with availability under an existing $500m revolving credit facility. Nordson expects the acquisition to be accretive to the company’s earnings in the first full year of operation.