Davis-Standard, LLC has agreed to buy the Extrusion Technology Group (ETG) from entities controlled by the Dutch investor Nimbus.
Terms of the deal, which is contingent on closing conditions, were not disclosed.
Davis-Standard has been majority owned by funds affiliated with Gamut Capital Management, L.P. since December 2021. Davis-Standard serves the global infrastructure and packaging end-markets with a suite of extrusion equipment and converting systems.
ETG is a player in the global extrusion equipment and services sector with a history dating to 1943. ETG’s operations span Europe, the United States, and Asia.
“The acquisition of ETG will be highly complementary and diversifying to our fast-growing enterprise, and we believe it will allow Davis-Standard to provide a broader and deeper product portfolio to our customers,” Giovanni Spitale, CEO of Davis-Standard, said in a statement. “We intend to establish the ETG business as a stand-alone segment that will continue to serve its base of customers with additional support and capabilities from the broader Davis-Standard platform.”
Gerold Schley, CEO of ETG, will join the Davis-Standard senior leadership team and continue to manage the ETG business after the closing of the transaction.