Industri Kapital has agreed to acquire a majority stake in Schenck Process, a provider of industrial weighing, feeding, screening and automation equipment and solutions, two years after Hg
Industri Kapital has agreed to acquire a majority stake in Schenck Process, a provider of industrial weighing, feeding, screening and automation equipment and solutions, two years after HgCapital bought the company from Dürr.
Over the past two years Schenck Process has expanded its workforce to around 1,800 employees, increased annual revenue to EUR350m and expanded its international footprint organically and by acquisition. Under HgCapital’s tenure Schenck Process acquired Stock Equipment, a move into the coal power equipment sector that increased the diversification of the group.
Today Schenck Process has significant operations in Europe, North and South America, China and Australia and serves a diversified customer base in a wide range of sectors, including heavy and light industry, mining, power and transport automation.
‘Schenck Process is the well-established, clear global market leader in the industrial process engineering solutions sector and enjoys a strong financial track record,’ says Industri Kapital partner Detlef Dinsel.
‘Together with the management team, our intention is to continue to build on the company’s strong market position. We intend to continue its acquisition strategy as well as growing market share and expanding into new markets.’
Schenck Process president and chief executive Jochen Weyrauch says: ‘We welcome the investment by Industri Kapital with whom we share similar visions and business philosophies. We would like to thank HgCapital for a fruitful and constructive partnership over the past two years; it has provided valuable support during a crucial phase in the development of the company.
‘Schenck Process has grown strongly through its ability to serve customers better than its competitors and the management team and employees can be justifiably proud of this success’.
Martin Block, head of HgCapital Germany, says: ‘We have been delighted with our investment in Schenck Process. It has been a pleasure to work alongside and support such a dynamic management team and this shows what can be achieved by a partnership approach. We are proud to have supported the company as it has grown and developed over the past two years and I have every confidence that it will continue in a similar manner.’
HgCapital was advised by Greenhill and Clifford Chance, while Industri Kapital was advised by Sal. Oppenheim, Lazard and Freshfields.
