German pump maker Lewa has been sold by its private equity owners Deutsche Beteiligungs (DBAG) and Quadriga Capital to Japanese pump manufacturer Nikkiso.
The two firms backed an MBO of Lewa in October 2005, and over the last four years has acquired a sales company in the US and locations in Norway, Singapore and Mexico. Research and development spending also increased, and earnings increased by almost 30% annually.
Dr Rolf Scheffels of Deutsche Beteiligungs and Dr Burkhard Bonsels of Quadriga Capital, said: “Lewa is an excellent example of how financial investors back mid-sized companies and contribute towards turning their technological potential into impressive growth through targeted internationalisation. Lewa has strengthened its market position, expanded its product portfolio, employed more people and heightened its profitability.”