HgCapital acquires the assets of Schenck Weighing Systems parent Schenck Process
– released in January 2006
WHITEWATER, WI – On December 30, 2005 HgCapital, a private equity investor acquired the assets of Schenck Process, the parent company of Schenck Weighing Systems, from the German based Durr Group.
The transaction allows Durr to solely focus on its core business activities in the automotive industry and to complete its financial restructuring. The acquisition by HgCapital also provides Schenck Process the opportunity to operate as a stand-alone business creating greater efficiencies.
HgCapital is one of Europe’s leading private equity investors with a concentration on investments in medium sized companies with sales ranging from 30 million (USD) to 300 million (USD). By acquiring Schenck Process, HgCapital was able to diversify its holdings by adding a process equipment manufacturer to its portfolio of technology, consumer, healthcare, leisure, and renewable energy companies.
Schenck Weighing Systems and its Germany based parent are worldwide suppliers of bulk solids metering equipment for weighing, feeding, and conveying materials in the cement, gypsum, aggregates, steel, mining, plastics, chemical, food, and pharmaceutical industries. With operations in over 40 countries, Schenck Process is a global leader providing measuring and process technology solutions.
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