New Delhi, May 7 -- Singapore-headquartered private equity firm Everstone Capital has acquired Qlar Group from Blackstone.
The financial terms of the transaction were not disclosed.
Formerly known as Schenck Process, Qlar is headquartered in Darmstadt, Germany, and is one of the leading providers of equipment for material handling and processing, for industries including cement, steel, mining, chemicals and food packaging.
The company employs more than 1,100 people across 13 countries, with production facilities in India, China, Germany, the United Kingdom, and the Czech Republic. Its product portfolio spans industrial weighing, feeding, conveying, milling, grinding and related digital solutions under the CONiQ product family. Blackstone had completed its acquisition of Qlar (then Schenck Process) in 2018.
Under Everstone, Qlar will retain its existing brand and organisational structure. The firm plans to invest in engineering, innovation and talent alongside Qlar's management team, with a focus on strengthening commercial capabilities, expanding market access and advancing solutions for more efficient, circular and lower-carbon material processing, per the press note.
Avnish Mehra, vice chairman of Private Equity at Everstone Capital, described Qlar as "a differentiated industrial technology platform with a strong global footprint and deep engineering capabilities", adding that its German technical expertise and Asian operations together create a strong foundation for sustainable growth.
Barclays served as exclusive financial advisor to Everstone Capital on the transaction.
Everstone Capital is the private equity arm of Everstone Group, focusing on control oriented, mid-market investments across sectors including technology, healthcare, consumer, financial services, and industrials in India and South Asia.
Earlier this year, the PE firm sold its entire stake in Burger King's India and Indonesia franchisee Restaurant Brands Asia.
Published by HT Digital Content Services with permission from VC Circle.