Private-equity group, Blackstone, has acquired Schenck Process, a specialist in material handling and processing. The company had been owned by IK Investment Partners. Financial terms of the transaction were not disclosed.
Based in Darmstadt, Germany, Schenck Process manufacturers equipment for a range of industrial processes, including weighing feeding, conveying, and filtration. It employs over 2500 people in operations across Europe, the Americas, China, India, and Australia.
“Schenck is an innovative and unrivalled leader, and we see considerable opportunity to grow the business, both organically and by acquisitions in its various end markets,” said Lionel Assant, Head of European Private Equity at Blackstone.
The financial backing provided by Blackstone make them an “ideal new partner”, said Andreas Evertz, President and CEO of Schenck. “As we commit to further innovation and developing new technologies, we look forward to accelerating growth across our international footprint.”
Schenck provides a range of material handling equipment to the cement industry, as well as automation and filtration solutions. Its latest product release, the MULTIDOS VDP-C range of medium-sized and compact apron weighfeeder, suitable for raw material and hot clinker feeding.
Read the article online at: https://www.worldcement.com/product-news/26092017/blackstone-buys-schenck-process/