Die manufacturers RotoMetrics and Gerhardt International have signed a memorandum of understanding to explore the acquisition of Gerhardt by RotoMetrics. The announcement was made in a letter to customers by the CEOs of both companies: Michael Bryant of RotoMetrics and Klaus Damberg of Gerhardt. If the companies decide to go forward with the transaction, it could be completed by the end of March.
“Combining these two companies,” they wrote, “will create a supplier with unprecedented global reach and technology leadership to support your total requirements for high quality rotary converting tools. The combination of the world-class manufacturing, product innovation and customer service infrastructure of our companies helps achieve our goal of being your preferred partner for tooling solutions.
RotoMetrics, based near St. Louis, MO, USA, supports customers from operations in eight countries with manufacturing operations on four continents. Gerhardt International, headquartered in Herlev, Denmark, has manufacturing operations in Europe and Australia, and sales and service networks worldwide.
“RotoMetrics is in a strong financial position to pursue the transaction,” the letter continues, “and we look forward to moving quickly to implement growth plans and expanded product offerings on a global basis.”
The companies anticipate that the transaction would be completed by the end of March, subject to normal due diligence procedures and pending regulatory approvals.