A total consideration of € 7 million will be paid to acquire 100% shareholding in Mixel and the transaction will be funded through a mix of internal accruals and debt, GMM Pfaudler said in an exchange filing on Friday. The transaction is subject to certain closing conditions and regulatory approvals, the transaction is expected to close in February 2023.

Tarak Patel, Managing Director of GMM Pfaudler Ltd said, “The acquisition of Mixel is in line with our growth and diversification strategy, it further enhances our product portfolio and also strengthens our Mixing business by bringing in additional technology and process know-how.”

Mixel designs and manufactures customised mixing systems for a wide range of industrial applications. It specialises in the design and manufacture of standard and made-to-measure mixing systems used across various industries and has more than 45,000 agitators installed worldwide. Mixel has two manufacturing facilities, one in Lyon, France and the second in Beijing, China.The company has a consolidated turnover of € 13.2 million as on December 31, 2021.

GMM Pfaudler is a global leader in corrosion-resistant technologies, systems, and services for the chemical, pharmaceutical, food and energy industry. Its branded Product Lines include Pfaudler, Normag, Mavag, Mixion, Interseal, Equilloy and Edlon.