Schenck is the global market leader for high-tech solutions, products and turnkey systems in industrial weighing, feeding and automation. Over our investment period our teams worked together with management to drive a range of initiatives forward, designed to create value.
Schenck was identified as an attractive target for us early on, sitting, as it does, within smart technology, combined with
advanced automation and control. It develops, manufactures, assembles, and markets, based on reliable components, combining process-engineering expertise and field-proven technology. Schenck has activities in more than 40 countries and operates eleven state-of-the art assembly facilities globally.
During our investment period, we recognised that growth needed to come from growing services, increasing the business’s share of recurring revenues, and expansion into new industries (in particular the mining and heavy industries business in North America). In June 2006, we supported them in acquiring Stock Equipment Company USA Inc for US$56 million as well as two further, complementary add-on acquisitions.
This work strengthened the company’s market position and established synergies, across this new group, that improved efficiency and generated new revenues. As a result Schenck’s EBITDA grew by 196% from 2003 to 2006.