HgCapital sells Schenck Process to 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 with HgCapital.
Since Schenck Process was acquired by HgCapital from Dürr 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 EUR350 million per annum; and expanding its international footprint organically and by acquisition. It was during HgCapital's 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.
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."
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