IMI acquires Z&J
UK engineering group IMI has agreed to acquire German engineering business Z&J Technologies GmbH for €135m.
IMI is to acquire Z&J from Luxembourg-based Valves Investment for a cash consideration of €135m. The transaction is subject to regulatory clearances.
Luxembourg-based private equity fund ILP, advised by J Hirsch & Co Deutschland GmbH, bought Z&J from Germany-based Equita Fonds 3 in 2008. Equita Management GmbH acquired a 90% stake in Z&J in 2006.
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