Germany’s oldest private equity firm Deutsche Beteiligungs has bought domestic engineering business Coperion Group from UK rival Lyceum Capital for €300 million (€405 million).
The business has entered the Asian market through the purchase of Coperion Keya and it is active in India and the US. Coperion was formed in 2000 through the merger of Werner and Pfleiderer with Waeschle.
Rolf Scheffels, a member of Deutsche Beteiligungs, said the company has huge potential which can be tapped by improving its equipment and via service-related returns. He also said the group’s international presence and historical roots in the manufacturing industry were attractive to the firm.
The Carlyle Group recently bought Goodyear’s engineered products division, which also produces conveyor belts, for €1.5 billion.
Deutsche Beteiligungs is focused on the German mid-market with around €1 billion under management.