Rapid Granulator sold to Lifco AB

Even with the sale of Rapid Granulator group of companies to Lifco AB, a diversified public company headquartered in Enköping, Sweden, other IPEG companies including Conair, Republic Machine and Thermal Care, will not be impacted by the sale.   

 

Rapid Granulator is a leading company engaged in size-reduction solutions for plastics processors and recyclers. The company is based in Bredaryd, Sweden. Its North American operations are based in Cranberry Township. Except for CEO Kirk Winstead, who will take on new responsibilities within IPEG, all Rapid employees are expected to remain with the company, which will continue to operate under the Rapid brand name.  Republic Machine, previously a division of Rapid Granulator, Inc., is now a subsidiary of IPEG, Inc. with all personnel continuing to be employed by IPEG.

Toni Reftman, Managing Director of Eldan Recycling, a wholly owned Lifco subsidiary located in Faaborg, Denmark, will assume responsibility for the Rapid business. 

 

IPEG CEO Chris Keller said the offer to buy Rapid was unsolicited and “very attractive in many respects.” He added that the Lifco is a well-endowed Swedish company with a very credible business strategy and a record of strong growth over the last 10 years.

 

Lifco owns about 100 companies serving mainly niche markets in three different business areas: dental materials and equipment, demolition and tools, and systems solutions. Fredrik Karlsson became CEO and President in 1998 and, in 2001, he set the company on a business expansion program that has seen Lifco’s sales grow to more than 6 billion Swedish Kroner (US $700 million). It has over 3000 employees in 30 countries. Eldan Recycling, which is part of an environmental group in Lifco’s systems solution business area, is a global supplier of recycling equipment and systems for processing tires, cables, WEEE, aluminum, refrigerators, municipal solid waste, magnesium and various other scrap materials. Eldan does not have its own granulator product line, so the acquisition of Rapid is very complementary.