Mersen to Acquire GMI Group to Consolidate Its Position in the United States
July 2, 2024
Mersen has recently announced the acquisition of GMI group (Graphite Machining, Inc.), an expert in the purification and machining of graphite, carbon and graphite composites.
This new acquisition complements Mersen’s Advanced Materials footprint in the US, adding volume and transformation capacities of isostatic, extruded graphite and insulation materials and enabling synergies between the plants. It reinforces the Group’s position on markets such as aerospace, process industries and energies. Mersen will also leverage its global footprint to develop GMI group’s complementary offer.
A family-owned company, GMI group employs approximately 200 employees located on 4 sites in the US, in the states of Pennsylvania and Michigan. The business will contribute c. 40 million USD in annual sales to Mersen and the acquisition represents an outflow of c. 50 million USD. The operation will be accretive to net income. It will be consolidated as of July 1st in Mersen’s accounts.
Luc Themelin, Chief Executive Officer of Mersen, stated: “I’m delighted to welcome the team that has made GMI a leader in its field. GMI’s extensive graphite experience and dedication to customers will consolidate Mersen’s position in the United States and provide access to new markets for extruded graphite. These new manufacturing capacities will also be highly valuable for the potential projects in the United States in solar or nuclear microreactors.”
https://www.mersen.com/sites/default/files/publications-media/2024-07-pr-en-mersen-gmi-usa.pdf
