Dürr Group, a prominent player in plant engineering and automation in Europe, has finalized the sale of its environmental technology segment, known as Clean Technology Systems Environmental division, to an affiliate of the US investment firm Stellex Capital Management. This transaction, first announced in June, marks a significant strategic shift for Dürr as it streamlines its operations.
The deal, valued at approximately €385 million, is expected to yield Dürr gross proceeds ranging from €290 million to €310 million, which the company anticipates receiving in the fourth quarter of 2023. After accounting for transaction-related expenses and taxes—most of which will be due in 2026—the firm will see a material impact on its financial statements. Notably, the gross proceeds do not include capital payments that Dürr had contributed to the environmental technology companies prior to the sale.
The anticipated book profit from this transaction is projected to fall between €220 million and €250 million before taxes and between €160 million and €190 million after taxes. The final figures will be confirmed once the closing balance sheet is available.
Strategic Simplification and Future Focus
The Clean Technology Systems Environmental division is recognized as a global leader in exhaust-air purification systems, generating sales of €407 million in 2024 and employing around 1,300 individuals. The divestment is a crucial step in Dürr’s ongoing efforts to simplify its corporate structure, a process that began last year. As part of these restructuring measures, Dürr has consolidated its automotive operations into a single division and divested from the Danish filling technology specialist Agramkow. The Group now operates with three divisions, down from five.
Dr. Jochen Weyrauch, CEO of Dürr, expressed satisfaction with the completion of the sale, stating, “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 also emphasized that under Stellex’s ownership, the environmental technology business is well-positioned to pursue growth and expand into new markets.
Karthik Achar, Partner at Stellex, highlighted the potential for growth, stating, “Alongside a reputable and valued partner in Dürr, we look forward to driving future growth of the Clean Technology Systems business across the globe, working to bring Stellex’s transatlantic resources to bear.”
As the transaction unfolds, both Dürr and Stellex aim to leverage their strengths to enhance the capabilities and market reach of the Clean Technology Systems division, signaling a promising future for the environmental technology sector.
