Albany International completed the acquisition of Heimbach Group for €154m.

Albany International, a developer and manufacturer of engineered components, completed the acquisition of Heimbach Group, a supplier of paper machine clothing, for €154m. “We are excited about the opportunities to create additional value for our shareholders and customers through the increased scale, complementary technologies and broader geographic footprint this transaction provides. Together we will effectively combine the strengths of each company to set a new standard in customer value delivery as the industry’s partner-of-choice,” Daniel Halftermeyer, Albany President of Machine Clothing.