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Pawcatuck, CT – May 30, 2024 – Davis-Standard, a global leader in the design and manufacturing of extrusion and converting technology, is proud to announce a significant milestone in its sustainability journey. All of its North American facilities are now powered by 100% carbon-free electricity. This achievement solidifies Davis-Standard's commitment to environmental stewardship and underscores its leadership in sustainable manufacturing practices within the industry.
By transitioning to 100% carbon-free electricity in North America, Davis-Standard has taken a decisive step towards reducing its carbon footprint and mitigating climate change impacts. This milestone aligns with the company's overarching sustainability goals and demonstrates its dedication to operating in an environmentally responsible manner.
Davis-Standard achieved this milestone by purchasing Green-e certified Renewable Energy Certificates (RECs) for its Pawcatuk, CT, and Fulton, NY facilities. These RECs guarantee that the electricity used in these locations is generated from renewable sources, such as wind or solar power, further solidifying Davis-Standard's commitment to sustainable energy practices.
Additionally, Davis-Standard's Greater Toronto Area operations utilize electricity sourced from hydroelectric sources, further contributing to the company's carbon-free energy usage.
This accomplishment complements Davis-Standard's existing ISO 14001-certified facilities and its Maillefer brand's EcoVadis Silver Award, highlighting the company's dedication to sustainability and environmental responsibility across its operations.
"We are incredibly proud to announce that all of our North American facilities are now powered by 100% carbon-free electricity," said Giovanni Spitale, CEO at Davis-Standard. "This milestone reflects our unwavering commitment to sustainability and underscores our dedication to reducing our environmental impact. By transitioning to renewable energy sources and leveraging green certifications like Green-e and ISO 14001, we are taking proactive steps towards building a more sustainable future for generations to come."
As a pioneer in the industry, Davis-Standard remains steadfast in its pursuit of sustainability, innovation, and excellence. The company will continue to explore new ways to minimize its environmental footprint while delivering best-in-class solutions to its customers worldwide.
For more information about Davis-Standard and its sustainability initiatives, please visit https://davis-standard.com/sustainability/
Acquisition Intended to Accelerate Company’s Growth and Global CapabilitiesDavis-Standard, LLC (“Davis-Standard”), a global leader in the extrusion equipment and services sector, announced today that it had reached a definitive agreement to acquire the Extrusion Technology Group (“ETG”) from entities controlled by the Dutch Investor Nimbus. The acquisition is subject to customary closing conditions. Davis-Standard has been majority owned by funds affiliated with Gamut Capital Management, L.P. (“Gamut”) since December 2021 and serves the global infrastructure and packaging end-markets with a highly engineered suite of extrusion equipment and converting systems supported by world-class aftermarket spare parts, service, and support for its base of industry critical customers. ETG is a well-established player in the global extrusion equipment and services sector with a history dating back to 1943. With a reputation for world-class engineering and innovation, ETG is a leader in the supply of extrusion equipment and downstream processing equipment, in addition to extensive tooling, dies, spare parts, and service capabilities, for the global pipe, profile, film and sheet markets. ETG’s operations span Europe, the United States, and Asia and includes long-established and storied brands, such as Battenfeld-Cincinnati, Exelliq (formerly known as Greiner Extrusion), and Simplas. Giovanni Spitale, CEO of Davis-Standard, stated: “We have long admired ETG’s capabilities and highly engineered products and are thrilled to welcome ETG into the Davis-Standard family of brands. The acquisition of ETG will be highly complementary and diversifying to our fast-growing enterprise, and we believe it will allow Davis-Standard to provide a broader and deeper product portfolio to our customers. We intend to establish the ETG business as a standalone segment that will continue to serve its base of customers with additional support and capabilities from the broader Davis-Standard platform. We believe that the combination of our world-class engineering capabilities, our global scale, and the sharing of best practices will only enhance our ever-expanding value proposition in the extrusion value chain.” Gerold Schley, CEO of ETG, will join the Davis-Standard senior leadership team and continue to manage the ETG business after closing of the transaction. “I am exceptionally proud of the growth and success that we have achieved across all of ETG’s businesses under the stewardship of Nimbus. This merger is a great outcome that we believe will create a best-in-class, diversified global supplier of highly engineered extrusion equipment.” Giovanni added: “I am thrilled to partner with Gerold as we invest further to accelerate growth and our global capabilities and look forward to working alongside all members of the ETG team after closing.” Terms of the transaction were not disclosed. Deutsche Bank Securities Inc. served as lead financial advisor, Current Capital Partners LLC served as a financial advisor and Kirkland & Ellis LLP served as legal counsel to Davis-Standard. Lincoln International served as financial advisor, and Allen & Overy served as legal counsel to Nimbus. Wells Fargo Securities, LLC, BMO Capital Markets Corp., UBS Securities LLC, Deutsche Bank Securities Inc., Stifel, Nicolaus and Company, Inc. and Citizens Bank, N.A. are providing financing commitments for the transaction, subject to customary terms and conditions.