BTG, part of Spectris’ Industrial Solutions segment, offers optimised and customised solutions for a range of applications, primarily for paper manufacturers
Image: Voith has acquired BTG in a deal worth $353.3m. Photo: courtesy of Adam Radosavljevic from Pixabay.
Germany-based technology company Voith has completed the acquisition of BTG, a Swiss provider of integrated process solutions for the pulp and paper industry, from Spectris for €319m ($353.3m).
BTG, part of Spectris’ Industrial Solutions segment, offers optimised and customised solutions for a range of applications, primarily for paper manufacturers.
Supplying mainly in the areas of packaging, graphic papers, and tissue, BTG’s portfolio comprises 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.
Voith seeks to strengthen position as a full-line supplier
Voith signed the deal to acquire BTG from Spectris in September 2019 to strengthen its position as a full-line supplier.
Voith Paper CEO Andreas Endters said: “The acquisition of BTG is an important strategic step for Voith. With BTG and its portfolio that is highly complementary to our own products and services, we strengthen our position as a full-line supplier.”
With the completion of the deal, BTG will operate under the established BTG brand while Voith and BTG customers will continue to purchase through their existing sales channels.
Spectris earlier said that the sale forms part of its strategy to simplify portfolio and to focus on expanding presence in specific high-growth end markets.
BTG president Rob Crossman said: “We are very excited with the acquisition of BTG by Voith. Together, we will have some tremendous opportunities to deliver more value to our customers, including integrated technologies, as well as Papermaking 4.0 and IIoT solutions.”
The proceeds from the sale will be used by Spectris to strengthen its balance sheet, before investing in growth opportunities.
Commenting on the deal, Spectris chief executive Andrew Heath said: “The sale of BTG represents our first step in executing our strategy for a more focused business and delivers compelling value for shareholders.”
Earlier this year, Voith was selected to supply the complete BlueLine stock preparation line for the Papierfabrik Palm’s (Palm) Aalen-Neukochen paper mill in Germany.
Under the contract, Voith will supply the entire stock preparation unit from feed-in of the recovered paper to the finished stock. The unit will have the capacity to produce 2,200 metric tons of stock per day.