Voith completes acquisition of BTG for EUR 319 million
By P&PC Staff
By P&PC Staff
Voith Group completed its acquisition of BTG on December 1, 2019.
The Swiss-based BTG provides optimized and customized solutions for a range of applications, primarily for paper manufacturers.
The previously announced acquisition agreement was signed on September 19, 2019 between Voith and Spectris plc, the former parent company of BTG, for a total gross cash consideration of EUR 319 million.
BTG will continue to operate under the established BTG brand, and customers will be able to purchase through their existing sales channels.
“The acquisition of BTG is an important strategic step for Voith,” says Andreas Endters, CEO of Voith Paper. “With BTG and its portfolio that is highly complementary to our own products and services, we strengthen our position as a full-line supplier.”
BTG supplies companies mainly in the areas of packaging, graphic papers and tissue. Its portfolio includes beds and rods for film-metering size presses, high-performance ceramic and cermet coating blades, and pulp and paper process control sensors and laboratory instruments. The company also offers data analytics, automation and software.
Voith Group has more than 19,000 employees, sales of $5 billion and locations in over 60 countries worldwide.