Mutares-backed Balcke-Dürr buys Loterios

The GP said in a statement that the acquisition will broaden its portfolio company's product portfolio and facilitate greater efficiency in production.

Mutares bought a majority stake in Balcke Dürr in November 2016 from its parent company SPX. The company produces equipment designed to improve energy efficiency and reduce emissions in the chemical and power generation industries.

The GP said in a statement that Loterios is the fourth add-on acquisition for Balcke-Dürr since its investment in 2016. It bought STF's heat exchanger division in 2018, following the France-based company's insolvency. The business has a headcount of 600 and reported sales of €160m in 2019.

Company
Loterios was founded in 1982 and is based in Gerenzano. The company designs and manufactures pressure equipment in materials such as titanium and high-quality nickel alloys. The company's products are used in the chemical, petrochemical, oil and gas, water treatment and mining sectors.

It employs 70 staff and reported revenues of €17m in 2019. It has share capital of €1.29m, according to its website.

People
Mutares – Robin Laik (CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Portfolio management
• DACH
• Industrials
• Build-up
• Germany
• Mutares