Private equity firm Blackstone has acquired Schenck Process, a measuring and process technology firm, from IK Investment Partners.
Schenck develops and manufactures solutions for a wide range of industrial processes including weighing, feeding, conveying and filtration. It serves customers throughout the world in industries including food, chemicals, mining and construction.
The business is headquartered in Germany and has over 2,300 employees.
Lionel Assant, Head of European Private Equity at Blackstone, said: “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. We are excited to team up with management and accompany Schenck in the next stage of its development.”
Andreas Evertz, President and CEO of Schenck, added: “As we embark on an exciting new chapter for Schenck, I would like to thank IK for their invaluable support over the past years. 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.”