Buyout group Blackstone has bought German measuring technology group Schenck Process from private equity investor IK Investment Partners, the groups said on Thursday.
While a purchase price was not disclosed, two people close to the matter said that the deal valued Schenck at more than 700 million euros ($834 million).
Schenck, a former unit of German automotive supplier Duerr AG (DUEG.DE), makes factory gear to weigh, filter or dose substances, catering to industries such as mining, construction, chemicals and food processing.
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