Dürr Group, a prominent player in plant engineering and automation, has finalized the sale of its environmental technology division, known as the Clean Technology Systems Environmental division, to an affiliate of the US investment firm Stellex Capital Management. This transaction, which was initially announced in June, is valued at approximately €385 million.
The sale is expected to yield gross proceeds for Dürr between €290 million and €310 million in the fourth quarter of 2024. After accounting for transaction-related costs and taxes, which will primarily be payable in 2026, the net proceeds will be lower. It is important to note that these figures do not include additional payments Dürr will receive for its prior capital contributions to the environmental technology companies.
The transaction is projected to result in a book profit ranging from €220 million to €250 million before taxes, and between €160 million and €190 million after taxes. The precise amounts will be confirmed once the final balance sheet is completed.
Strategic Simplification and Growth Opportunities
The Clean Technology Systems Environmental division stands as a global leader in exhaust-air purification systems, boasting sales of €407 million in 2024 and a workforce of approximately 1,300 employees. The divestiture is part of Dürr’s ongoing strategy to streamline its corporate structure, which began last year. This initiative has also included consolidating its automotive business into a single division and selling the Danish filling technology specialist Agramkow. Following these changes, Dürr now operates with three divisions instead of five.
Dr. Jochen Weyrauch, CEO of Dürr, stated, “With the sale of the environmental technology business, we have successfully completed the simplification of our Group structure. Our focus is now fully on our core business, centered on the sustainable automation of production processes.” He emphasized that under Stellex’s ownership, the environmental technology division is well-positioned to pursue growth and explore new opportunities.
Karthik Achar, a Partner at Stellex, expressed enthusiasm for the acquisition, stating, “Alongside a reputable and valued partner in Dürr, we look forward towards driving future growth of the Clean Technology Systems business across the globe, working to bring Stellex’s transatlantic resources to bear.”
Dürr’s strategic move not only marks a significant transition within the company but also highlights the growing importance of environmental technology in global markets. As sustainability becomes increasingly vital in industrial processes, Stellex’s acquisition could pave the way for innovative advancements in this sector.