HI - Hillenbrand to buy German plastic recycling company Herbold Meckesheim for ~Euro79M

• Hillenbrand ( NYSE: HI ) on Thursday said it had entered in an agreement to buy Germany-based plastic recycling company Herbold Meckesheim for an enterprise value of about €79M.
• HI said the deal is expected to be accretive to its adj. EPS within the first full year of transaction close, and is expected to deliver double-digit return on invested capital by the third year.
• HI said it will look to use its cash on hand and cash available under its revolving credit facility to fund the deal.
• The acquisition of Herbold advances HI's long-term growth strategy of entering into the market of recycling, HI said.
• Based in Meckesheim, Germany, Herbold offers machines and systems for the treatment of waste in the plastics-processing industry.
• HI stock earlier closed +1% at $40.96.

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