Schenck AccuRate’s parent 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 AccuRate’s parent Schenck Process was acquired by HgCapital from Dürr AG in 2005, it has built a stronger and strategically well-positioned business, growing the workforce to around 1800 employees, increasing revenue to $470 million per year, 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.
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 robust and balanced business model. 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.
“Schenck Process is the well-established, clear global market leader in the industrial process engineering solutions sector and enjoys a strong financial track record,” said Detlef Dinsel, Partner Industri Kapital. “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.”
“We welcome the investment by Industri Kapital with whom we share similar visions and business philosophies,” said Dr. Jochen Weyrauch, President & CEO, Schenck Process. “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.”