Nordson Selling Screw, Barrel Business
Private equity firm Altair expects to close on acquisition during the first quarter of next year.
Nordson Corp. has agreed to sell the screws and barrels product line from its polymer processing systems (PPS) division to Altair Investments. In an press release, Nordson said the divestiture is “consistent with its strategy to drive profitable growth through highly differentiated products serving attractive end markets.” Nordson’s global screws and barrels business generates more than $70 million in annual sales and employees 500.
Sundaram Nagarajan, Nordson president and CEO, said, “We are focusing our resources on precision technology solutions that will deliver profitable growth for the company. Our screws and barrels product line is a respected market leader in the polymer processing industry. While this product line no longer fits Nordson’s strategic focus, we believe it will do well with Altair.”
Altair Investments Inc. is a Chicago-based private equity firm focused on investing in niche manufacturing companies Its most recent acquisitions include NVEyeTech and Marathon Boat Group.
Nordson and Altair anticipate closing the transaction in the first quarter of fiscal 2021.
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