Thimm Group is continuing its growth path and expanding its solutions portfolio in the multi-material packaging segment. The subsidiary company, Thimm Packaging Systems, is taking over the supplier of foam solutions and technical moulded parts, ISL Schaumstoff-Technik GmbH, based in Viernheim in South Hesse and ISL Verpackungstechnik GmbH in Serba in Thuringia. ISL Group employs about 250 people at its two German sites.
The take-over will be finalised after the approval by the Federal Cartel Office which is expected in the next few weeks. It has been agreed that the purchase amount will not be disclosed.
“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,” explains Mathias Schliep, Chairman of the Management Board of Thimm Group. “These will be an almost perfect complement to our existing sites, both technically and geographically.”
Thimm Packaging Systems and ISL have been working together at different levels in a customer-supplier relationship since 2008. In 2018, ISL Group’s two German facilities generated total revenues of €25m. The two international sites of ISL Group in Dýšina (Czech Republic) and in Nové Mesto (Slovakia) are not being taken over.
The two new sites will be run under the umbrella of Thimm Packaging Systems and integrated into their network. “With the new sites we are further expanding our presence and we will be located even closer to our customers,” says Jürgen Düvel, Managing Director of Thimm Packaging Systems. “Across Germany we will then be represented by seven sites with the proximity of the two sites of Germersheim and Viernheim to each other offering additional process and logistics benefits.”