Germany: Private equity company Blackstone has agreed to buy Schenck Process from IK Investment Partners. No further details, including the cost of the transaction, have been disclosed.

“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,” said Lionel Assant, Head of European Private Equity at Blackstone.

Detlef Dinsel, Partner at IK Investment Partners and advisor to the IK 2007 Fund said that Schenck had, “…transformed its business focus from a mechanical manufacturer to a service and integrated solutions provider, achieved significant growth by expanding the product portfolio and entering new markets both organically and through selected add-on acquisitions.”

Schenck develops and manufactures solutions for a wide range of industrial processes including weighing, feeding, conveying and filtration. With over 2300 employees worldwide and significant operations across Europe, North and South America, China, India and Australia, Schenck serves a diversified customer base across a variety of industries, including food, chemicals, mining and construction.