Bloomberg

(Bloomberg) -- Sulzer AG agreed to acquire German mascara-brush maker Geka GmbH in a deal valued at 260 million euros ($289 million) as it seeks to expand its plastic injection molding business and move beyond pumps for the oil, mining and drilling industries.

The acquisition from private equity firm 3i Group Plc will double the size of Sulzer Mixpac Systems, which is the company’s most profitable business unit, the Swiss company said in a statement. Geka is expected to post full-year revenue of about 150 million euros and earnings before interest, taxes, depreciation and amortization of around 27 million euros.

“Through this acquisition, SMS adds Geka’s leading position in the cosmetics segment to its current leadership in the dental and industrial adhesive segments,” Sulzer said in the statement on Monday. “The transaction creates a leader in proprietary B2B mixing and applicator solutions.”

To contact the reporter on this story: Niclas Rolander in Stockholm at nrolander@bloomberg.net. To contact the editors responsible for this story: Tara Patel at tpatel2@bloomberg.net, Andrew Noël

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