Romaco sold; new owners plan expansion and investment
The deal, which was announced by DGAB and current Romaco owner Robbins & Myers (R&M) late last week, is expected to complete before the end of the month subject to approval by German anti-trust authorities.
Dayton, Ohio-based R&M has owned Romaco since 2001 and, according to the firm, has been instrumental in efforts to focus its business on engineering and drug packaging, delivery systems and processing.
DBAG board member Rolf Scheffells said Romaco is an excellent investment opportunity, explaining that: “The focus will be on, among other things, expanding the service business, strengthening the sales network and transferring process knowledge and skills to other applications, such as the cosmetics industry.”
In its press statement, R&M said that the divestiture is part of an effort to refocus on the fluid management technology and process control sectors and welcomed DBAG’s plans to expand Romaco’s business.
R&M also expects the sale to provide savings, telling the Dayton Daily News that it expects to save around $7m as a result of “reduction in overlapping corporate jobs, and eliminating duplicate fees and costs associated with merging public companies.”
Romaco, which is headquartered in Karlsruhe, Germany and employs 450 people, owns the Noack, Siebler and Bosspak lines. The firm produces the Macofar, Promatic and Unlpac packaging lines at its facility in Bologna, Italy.
The firm’s processing business is handled by its Frymakorma unit, which produces a range of packaging, sterile liquid, powder filling and grinding technologies at its facilities in Neuenburg, Germany and Rheinfelden in Switzerland.
Romaco, which expects to generate revenue of €100m in 2011, did not respond to in-Pharmatechnologist.com’s request for additional comment.