Buhler acquires Aeroglide

26-06-2008 | |

The Buhler Technology Group has acquired all the shares of the US firm Aeroglide Inc. through the signing and closing of a definitive agreement on  $95 million (€60.7m) with US-based private equity firm Compass Diversified Holdings (CODI).

The deal, which closed Tuesday, marks the second time in 16 months that
Aeroglide has been sold. Compass paid $58 million in February 2007 to acquire
89% of Aeroglide.

Buhler will operate Aeroglide as an
autonomous centre of competence in the form of a business
unit.

Aeroglide,  formerly a family-owned company, can
look back upon a success story of over 60 years that has maintained a leading
market position, especially in the past years.

With approximately 230
employees, the company generated sales revenues in 2007 of $64m
(€40.91m).

The company, which is headquartered in Raleigh (North
Carolina), is active worldwide and operates sales sites in the US, Asia, and
Europe.

Aeroglide supplies various thermal processes and produces
specialized production systems. It has established an international reputation
especially in the drying of foods, feeds and of industrial
products.

Buhler  is a global leader in process engineering,
especially production technologies for making foods and engineering materials.
Buhler is present in over 140 countries and has some 6900 employees. In fiscal
2007, the Group generated sales of CHF 1,770m (€1,090m).

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