HENGELO, AUGUST 25, 2021 – On July 19, participation company, Wadinko, sold the injection molding machine manufacturer Stork IMM based in Hengelo, Netherlands to investment company Stibbe Participaties. Wadinko and Stibbe have jointly implemented a refinancing program that makes the company debt-free.
Stork IMM was founded more than fifty years ago as part of the innovative machine factory Stork & Co. The company was spun off from the parent company at the turn of the century and has since focused on the production of extremely fast injection molding machines, with the various packaging industries as focus markets. Stork IMM is based in Hengelo, Netherlands and has approximately 110 employees.
Stibbe Participaties has specialized in buy & build strategies for industrial machine factories worldwide for approximately thirty years. As far as Stibbe Participaties' founder and CEO Philip Stibbe is concerned, Stork IMM fits in seamlessly with the business philosophy of his personal investment company. “Stork IMM is a wonderful company with a proud history that has returned to calmer waters with us,” says Stibbe. “I see a lot of potential, and we are now working with local management and staff to realize that.”
René Wolfkamp, director of Wadinko, is pleased with the sale to Stibbe Participaties: "Stibbe Participaties can continue to build on the foundation laid by Wadinko in recent years with a focus on the further expansion and healthy growth of the company."
As part of the takeover, Wadinko and Stibbe Participaties have jointly refinanced, making Stork IMM completely debt-free. In keeping with the philosophy of Stibbe Participaties, Stork IMM will operate under its own independent management.