Mutares-backed Balcke-Dürr sells Rothemühle to trade

The transaction is expected to complete in Q1 2021.

Howden said in a statement that the acquisition will broaden its capabilities in environmental technology.

Mutares acquired a majority stake in Balcke-Dürr in a carve-out from US-based SPX Corporation in November 2020. The company generated revenues of €142m in 2015 and employed 650 people. Balcke-Dürr Rothenmühle was carved out from Balcke-Dürr in 2019, Mutares said in a statement, with the intention that the business would be sold as a separate unit.

The sale has generated a double-digit return on invested capital for Balcke-Dürr Group, according to a statement. The deal values Balcke-Dürr Rothemühle at less than €25m.

Balcke-Dürr sold its Poland-based activities to Wallstein Group in April 2020. The company intends to focus on its equipment and service operations in the nuclear, chemical and alternative energy sectors, as well as decomissioning operations.

Company
Founded in 1936, Balcke-Dürr Rothemühle produces equipment for the flue gas path segment of power and process plants, partiularly for coal-based systems. The company also offers engineering and maintenance services. Balcke-Dürr Rothenmühle has 55 employees and generated revenues of €23m in 2019.

People
Mutares – Johannes Laumann (CIO).
Howden – Ross B Shuster (CEO).

Advisers
Vendor – PwC (corporate finance).

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