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HgCapital to sell Schenck Process to Industri Kapital21/08/2007. Source: AltAssets. 
 European mid-market private equity investor HgCapital has agreed to sell Schenck Process, a Darmstadt, Germany-headquartered provider of industrial weighing, feeding, screening and automation equipment and solutions, to Industri Kapital.
The price paid by Industri Kapital for its majority stake in Schenck Process was not disclosed.
Schenck Process employs 1,800 people and had revenues of €350m per annum, according to a statement. Sources close to the deal told AltAssets that Schenck Process's revenues this year are expected to increase to around €370m.
The company has operations in Europe, North and South America, China and Australia and serves customers across various industries (including heavy, light, mining, power and transport automation).
HgCapital acquired Schenck Process from Dürr for €205m in December 2005.
Martin Block, head of HgCapital Germany, said, 'We have been delighted with our investment in Schenck Process. It has been a pleasure to work alongside and support such a dynamic management team and this shows what can be achieved by a partnership approach. We are proud to have supported the company as it has grown and developed over the past two years and I have every confidence that it will continue in a similar manner. We wish Industri Kapital and the management team every success for the future.'
Industri Kapital, a European private equity firm with Nordic roots, manages close to €4bn in fund commitments. The firm invests mainly in mid-sized companies operating in mature industries. Current investments in Germany include Sport Group, Minimax and DYWIDAG-Systems International (DSI).
HgCapital focuses on investments with an enterprise value in the range of €50-500m. HgCapital manages approximately €2.7bn.
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