Blackstone to Acquire Schenck Process
Headquartered in Darmstadt, Germany, Schenck develops and manufactures solutions for a wide range of industrial processes, including weighing, feeding, conveying and filtration.
IK Investment Partners recently announced that the IK 2007 Fund has reached an agreement with private equity funds managed by Blackstone to sell Schenck Process. Financial terms of the transaction were not disclosed.
Headquartered in Darmstadt, Germany, Schenck develops and manufactures solutions for a wide range of industrial processes, including weighing, feeding, conveying and filtration. With over 2,300 employees worldwide and operations across Europe, North and South America, China, India, and Australia, Schenck serves a diversified customer base across a variety of industries.
“This investment underlines our strong commitment to the German market as we continue to evaluate further opportunities across Europe,” said Juergen Pinker, managing director at Blackstone. “Blackstone has a proud record of working with growing companies and supporting their strategies, and we are hugely excited about our new partnership with Schenck.”
“As we embark on an exciting new chapter for Schenck, I would like to thank IK for their invaluable support over the past years,” said Andreas Evertz, president and CEO of Schenck. “Blackstone’s significant sector experience and financial backing make them the ideal new partner. As we commit to further investment in innovation and developing new technologies, we look forward to accelerating growth across our international footprint.”