Acquisition

HG Capital Trust PLC
01 November 2005


                          Hg Capital Trust plc

The following is the text from a press release issued by HgCapital, which 
manages the investment portfolio of HgCapital Trust plc alongside those of other 
clients. The trust, which participates in all of HgCapital's investments, will 
invest €13.7 million in Schenck Measuring and Process Technologies.


          HgCapital announces acquisition of Schenck MPT from Durr AG

Frankfurt - London, 1 November 2005. HgCapital, the European sector-focused 
private equity investor and Durr AG have signed an agreement on the sale of 
Schenck Measuring and Process Technologies ('Schenck MPT'), which values the 
company at €205 million. The management of Schenck MPT will participate in the 
buy-out and take a minority stake. The transaction is expected to close by the 
end of the year. This is the third acquisition by HgCapital in Germany in 2005. 
The combined value of these three transactions totals more than €400 million.

Schenck MPT is part of Carl Schenck AG, a fully owned subsidiary of Durr AG, 
with headquarters in Darmstadt, Germany. The company is the global market leader 
for high-tech applications and solutions in industrial weighing, feeding and 
automation. Schenck MPT develops, manufactures, assembles, markets and sells a 
full range of solutions, products, systems and turnkey systems on the basis of 
reliable components, combining process-engineering expertise and field-proven 
technology. It is the only company offering its customers a full line of 
applications and products across the various industries in the market for 
weighing and feeding. Schenck MPT has activities in more than 40 countries and 
operates eleven state-of-the art assembly facilities globally, Schenck MPT is 
organised along four business segments: Heavy Industry (steel, cement, sand & 
gravel and building materials industries), Light industry (specialty chemicals, 
plastics and food industries), Mining and Transport & Logistics.

In the year 2005, Schenck MPT will generate sales of approximately €225 million. 
In June 2005 the company employed 1,096 people globally. More then 40% of sales 
are generated in the high-growth markets of China, India, South America and 
Eastern Europe.

Martin Block, Head of HgCapital Frankfurt, said: 'Schenck MPT is the undisputed 
leader within its industry. The company operates under a highly recognised brand 
name and has solid and long-established relationships with a large number of 
blue-chip clients all over the world. The management of Schenck MPT has 
demonstrated during the successful restructuring of the company that it has a 
profound understanding of the business and its markets. We fully endorse the 
management's current strategy and will bring in additional experience, expertise 
and resources to boost growth and profitability further.

Although Schenck MPT already has a strong presence in high growth markets we 
will look carefully for acquisition opportunities, particularly in the markets 
of China, India, South America and Eastern Europe.'

Dr Jochen Weyrauch, CEO of Schenck MPT, said; 'The buy-out of Schenck MPT is the 
decisive next step in order to continue the successful expansion of the business 
achieved over the last few years. The company has increasingly developed into a 
standalone business and the most recent reorganisation has laid the platform for 
the successful separation of this division from the main group. As an 
independent business, Schenck MPT can be developed with greater focus and 
efficiency and we look forward to working with HgCapital, which is an 
experienced shareholder with strong capital resources. With our solutions in 
measuring and process technologies we believe we are well positioned across all 
growth industries, in particular the extraction and processing of raw materials.'

HgCapital was advised by Metzler, Lovells, PwC and LEK. Debt financing was 
arranged by Mizuho Corporate Bank.

 

For further information

HgCapital           
Martin Block               [phone]  [e-mail]
Dr. Karsten Hartmann       [phone]  [e-mail]

Maitland
Dr. Axel Ludeke            [phone]  [e-mail]
Peter Ogden                [phone]  [e-mail] 


                      This information is provided by RNS
            The company news service from the London Stock Exchange