EQT to sell BBS Automation to Durr Group

BBS Automation is a developer of automation products for manufacturing and testing processes.

  • EQT acquired a majority stake in BBS in May 2018
  • Dürr Group is a mechanical and plant engineering firm
  • EQT is a global investment organisation that manages €119bn in assets

EQT, along with its co-shareholders, has agreed to sell BBS Automation, a developer of automation products for manufacturing and testing processes, to Dürr Group.

BBS’ enterprise value is between €440 million and €480 million, depending on the development of results in 2023, according to a release.

BBS is headquartered in Munich, Germany.

EQT acquired a majority stake in BBS in May 2018.

BBS, during EQT’s ownership, more than doubled its sales to over €300 million (2023 estimate), the release said.

BBS has also made investments in its global footprint, doubling its network of sites from seven to 14 and growing its number of employees from around 550 to around 1,200, the release said.

EQT supported BBS in its organic growth with four add-on acquisitions including ANT Solutions, TEAM, ReaLead, and Kahle Automation.

“BBS is a showcase of EQT’s philosophy of investing at the nexus of digitisation and sustainability, creating value for our investors, the company and its employees and society at large,” said Andreas Aschenbrenner, partner within EQT Private Equity’s advisory team.

Durr Group will provide funding from cash flow as well as through existing financing instruments and a bridging loan.

BBS will continue to be led by Josef Wildgruber.

The transaction, subject to regulatory approval, is expected to be completed in the fall of 2023.

Dürr Group is a mechanical and plant engineering firm based in Baden-Württemberg, Germany.

EQT is a global investment organisation that manages €119 billion in assets. The firm is based in Stockholm, Sweden.