Albany international corp. (nyse:ain) acquired circomp gmbh for €39 million.

Albany international corp. (nyse:ain) acquired circomp gmbh for €39 million on november 20, 2019. the consideration of €39 million includes €5 million of deferred payments that will become due upon the completion of certain post-closing performance obligations and paid annually, in equal installments, over the next 5 years. albany funded the acquisition using a combination of cash on hand and funds drawn on its revolving credit facility. ing. ralph funck the managing director of circomp and its team will join albany international. albany international corp. (nyse:ain) completed the acquisition of circomp gmbh on november 20, 2019.
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