NANTES, FRANCE — IK Partners announced that an affiliate of the IK VIII Fund has entered into an agreement to sell its stake in Linxis Group to Hillenbrand, Inc., for an estimated €572 million (approximately $584 million).
A leading global provider of industrial processing equipment across three business units — mixing, ingredient automation and portioning solutions — for food and other higher growth end markets, Linxis Group is composed of six brands: VMI, Diosna, Shaffer, Shick Esteve, Unifiller and Bakon.
Specializing in the design, installation and maintenance of mission-critical equipment, Linxis brands operate manufacturing facilities in 100 countries throughout Europe and North America, cementing market-leading positions in all three business units.
“We are delighted to have enjoyed a successful partnership with IK, which has seen Linxis grow significantly since 2017,” said Tim Cook, Linxis Group CEO. “The additional financial firepower and market expertise brought by the IK team has allowed us to pursue a number of inorganic growth opportunities and expand the business on a global scale. We look forward to continuing our growth trajectory in partnership with Hillenbrand.”
IK acquired Linxis from Equistone in 2017 and has transformed it through add-on acquisitions: Unifiller in 2018 and Laramore (now a Shick Esteve company), Bakon and Shaffer in 2021. Coupled with strategic product development, cross-selling capabilities and the introduction of an operational excellence program, Linxis Group’s acquisition trajectory has created significant growth through global expansion.
“The additional financial firepower and market expertise brought by the IK team has allowed us to pursue a number of inorganic growth opportunities and expand the business on a global scale. We look forward to continuing our growth trajectory in partnership with Hillenbrand.” —Tim Cook | CEO | Linxis Group
Linxis Group capabilities across all business units will complement the equipment and solutions offered under Hillenbrand’s Coperion brand.
“Linxis Group will continue to build upon our profitable growth strategy by further strengthening and accelerating our position in the attractive food end market and enhancing the technical capabilities of our products and service offerings,” said Kim Ryan, president and CEO of Hillenbrand. “By leveraging the combined capabilities of our Coperion brand and the Linxis Group brands, we will be able to offer more comprehensive processing solutions, creating significant value for our customers. Through cross-selling opportunities in key geographies, the deployment of the Hillenbrand Operating Model and utilization of our scalable foundation, we expect this acquisition to deliver compelling long-term shareholder value.”
Currently employing more than 1,000 people in locations around the world, Linxis will join Hillenbrand’s Coperion and Rotex brands as part of the company’s Advanced Process Solutions (APS) segment, which provides highly engineered industrial equipment and systems, as well as aftermarket parts and services for a variety of applications.
Upon completion of required works, council consultations and regulatory approvals, the purchase agreement is expected to close before the end of 2022.
