DBAG backs Pfaudler Process Solutions Group

The deal sees Pfaudler spin out of parent company National Oilwell Varco, a US-based supplier to the oil and gas industry.

DBAG has invested €8m from its balance sheet to finance the spinout. The firm's Fund VI purchased the remainder of Pfaudler. Following this first phase of the transaction, Pfaudler will undergo another buyout to enable its management to secure a stake in the new structure.

The deal marks the second MBO announced in the space of a few weeks by the GP: DBAG bought Bavaria-based Huhtamaki Films from previous owner Huhtamäki Oyj at the end of November.

Company
With roots dating back to 1884, Pfaudler manufactures glass-lined vessels and other glass-lined components used in the chemical and pharmaceutical industries. The company operates from nine locations and employs 1,400 people.

Headquartered in Schwetzingen, Pfaudler expects to generate revenues of €160m in 2014.

People
Andrew Wills is CEO of Pfaudler.

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• Topics
• DACH
• Buyouts
• Industrials
• Germany
• Deutsche Beteiligungs AG