2019-12-02
Acquisition of BTG successfully closed
“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,” states Andreas Endters, CEO of Voith Paper.
The agreement for the acquisition was signed on September 19 between Voith and Spectris plc, the former parent company of BTG, for a total gross cash consideration of €319 million. BTG will remain entrepreneurial in nature and will operate under the established BTG brand. Therefore, Voith and BTG customers will be able to purchase via their existing sales channels as usual.
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. Moreover, BTG is a decisive partner in the digital transformation of the pulp and paper industry with its offerings in the areas of data analytics, automation and software.
“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. We are looking forward to joining forces with Voith. This will also present more opportunities for our employees going forward,” says Rob Crossman, BTG President.
About the company
The Voith Group is a global technology company. With its broad portfolio of systems, products, services and digital applications, Voith sets standards in the markets of energy, oil & gas, paper, raw materials and transport & automotive. Founded in 1867, the company today has more than 19,000 employees, sales of € 4.2 billion and locations in over 60 countries worldwide and is thus one of the larger family-owned companies in Europe.
More about the Voith Group
The Group Division Voith Paper is part of the Voith Group. As the full-line supplier to the paper industry, it provides the largest range of technologies, services, and products on the market, and offers paper manufacturers holistic solutions from a single source. The company’s continuous stream of innovations facilitates resource-conserving production and supports customers in significantly reducing their carbon footprint. With its comprehensive automation products and leading digitization solutions from the Papermaking 4.0 portfolio, Voith offers its customers state-of-the-art, digital technologies to increase the availability and efficiency of their systems in all areas of the production process.