The Deal
With its rich history of over 180 years, the next phase of BORSIG’s journey will be supported by Vorsprung Partners, a European investment boutique. The acquisition underlines Vorsprung’s focus on mid-market champions, maintaining its market position and leveraging strong macro tailwinds in the underlying end-markets. Under the current management, BORSIG will further explore innovative services as well as continue to develop membrane technologies for applications in sustainable end-markets.
BORSIG Group recorded revenues of EUR 159m and EBITDA of EUR 27m for the fiscal year 2021. The EV is EUR 179m, corresponding to an Equity Value of EUR 221m.
The Target
BORSIG was established in 1837 and is a German provider of liquid and gas process equipment, mainly to companies within the energy industry. With its 5 locations in Germany, the company offers process solutions to companies in the (petro-)chemical, energy, pharma and food & beverage industry. The BORSIG product portfolio is complemented by a wide range of customer services. BORSIG will continue to operate in its entities and will further strengthen its global market position.
Vorsprung Partners
Vorsprung Partners is a European investment boutique with a focus on growth and owner succession of mid-market companies in Germany and DACH region. With its large network and variety of operating partners, Vorsprung supports the management in strengthening the companies’ market positions with the goal of building mid-market champions.
KNM Group
KNM Group is an industry-holding company. Based in Malaysia, the KNM Group is listed since August 2003 and operates under 3 brands in 8 countries world-wide. Its major customers are in the international refining, petrochemicals, energy and global engineering end-markets.
BORSIG was acquired by the KNM Group in 2008.
Disclaimer
The acquisition is subject to competition authority approval in Germany and financing. The transaction is estimated to close in July 2022.
