Thimm Group to acquire two ISL Group’s packaging operations in Germany
October 18, 2019Thimm Packaging Systems is set to acquire two ISL Group’s foam solutions and technical moulded parts firms in Germany.
Both parties have agreed not to disclose the financial terms of the transaction. The agreement will expand Thimm Group’s multi-material packaging solutions portfolio.
ISL Group manufactures foam and multi-material packaging solutions for single and multiple-use applications and in technical moulded parts.
The agreement covers the acquisition of ISL Schaumstoff-Technik and ISL Verpackungstechnik.
Schaumstoff-Technik is based in Viernheim, South Hesse, and Verpackungstechnik is located in Serba, Thuringia. Currently, ISL employs around 250 associates across the two sites.
Thimm Group management board chairman Mathias Schliep said: “The integration of ISL into the Thimm Group is an important step within the context of our growth strategy.
“It does not only enable us to expand our multi-material packaging portfolio but we are also gaining two high-performance sites in Germany. These will be an almost perfect complement to our existing sites, both technically and geographically.”