ISL Group is a provider of foam and multi-material packaging solutions for single- and multiple-use applications
Image: Thimm to acquire multi-material packaging solutions provider ISL Group. Photo: courtesy of THIMM THE HIGHPACK GROUP.
Thimm Group is set to acquire Germany-based ISL Group to expand its multi-material packaging solutions portfolio.
ISL Group has expertise in providing foam and multi-material packaging solutions for single- and multiple-use applications. It also provides technical moulded parts to the customers.
Under the deal, Thimm Group’s subsidiary Thimm Packaging Systems will acquire the supplier of foam solutions and technical moulded parts, ISL Schaumstoff-Technik and ISL Verpackungstechnik.
The acquisition of ISL Group will help Thimm Group to expand its multi-material packaging solutions portfolio
ISL Schaumstoff-Technik is based in Viernheim of South Hesse, while ISL Verpackungstechnik is based in Serba of Thuringia. ISL Group employs around 250 people at its two sites in Germany.
The two sites will operate under the umbrella of Thimm Packaging Systems and will be integrated into the group’s network.
The acquisition will be finalised upon approval by the Federal Cartel Office, which is expected in the next few weeks.
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.”
Since 2008, Thimm Packaging Systems and ISL have been working together at different levels in a customer-supplier relationship.
ISL develops and produces foam moulded parts, as well as packaging solutions from moulded foam and multi-use hollow-chamber multi-skin sheets.
The common sectors served by both firms include automotive, medical technology and mechanical engineering industries.
ISL Group’s other two international sites, which are located in Dýšina of the Czech Republic and Nové Mesto of Slovakia, are not part of the deal.
Thimm Packaging Systems managing director Jürgen Düvel said: “With the new sites we are further expanding our presence and we will be located even closer to our customers.”
In August this year, Poland-based TOP Packaging has agreed to acquire Polish supplier of corrugated cardboard packaging, United Packaging, for an undisclosed amount.
TOP Packaging is a joint venture of THIMM Group with 51% stake and Saica Group holding the remaining 49% interest.