Product category:
Weighing systems, Strain gauges
News Release from: Schenck
Edited by the Processingtalk Editorial
Team on 24 August 2007
Schenck Process acquired by Industri
Kapital
Schenck Process is to embark on further expansion with the support of Industri Kapital following two years of successful growth under the stewardship of HgCapital.
Industri Kapital has signed an agreement to acquire a majority stake in the company, from HgCapital Since Schenck Process was acquired by HgCapital from Durr AG in 2005, it has built an even stronger and strategically well-positioned business, growing the workforce to around 1,800 employees; increasing revenue to euro350 million per annum; and expanding its international footprint organically and by acquisition
This article was originally published on Processingtalk on 12 Nov 2004 at 8.00am (UK)
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It was during this HgCapital tenure that Schenck Process acquired Stock Equipment, a strategically important move into the coal power equipment sector that resulted in a further diversification of the group.
Today Schenck Process is one of the global market-leading providers of industrial weighing, feeding, screening and automation equipment and solutions.
It benefits from a multitude of growth opportunities and a very robust and balanced business model.
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It has significant operations in Europe, North and South America, China and Australia and serves a diversified customer base across a wide range of industries, including heavy, light, mining, power and transport automation.
As the only truly global company in the market coupled with a leading aftermarket service platform, Schenck Process is in a unique position to supply its broad blue chip customer base.
Detlef Dinsel, Partner Industri Kapital commented: "Schenck Process is the well-established, clear global market leader in the industrial process engineering solutions sector and enjoys a strong financial track record.
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".
Dr Jochen Weyrauch, President and CEO Schenck Process commented: "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, said: "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.
We wish Industri Kapital and the management team every success for the future".
HgCapital was advised by Greenhill and Clifford Chance.
Industri Kapital was advised by Sal Oppenheim, Lazard and Freshfields.
The transaction is subject to customary merger control approvals.
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