Deutsche Bet exits AvK/SEG

Deutsche Beteiliungs has realised its investment in AvK/SEG Holding GmbH & Co KG by selling its 50 per cent stake to UK-based Newage International. The combined company aims to offer the broadest product range and achieve global market leadership in supplying products and services to the power generating industry. It will generate sales of some e350 million and employ 2,700 people.

Deutsche Beteiligungs AG invested expansion capital in AvK/SEG in 1996. Since then, revenues have climbed 50 per cent to some e110 million.

The number of employees as also increased significantly.

The company’s concycle technology, which is chiefly applied in wind energy production, was still under development in 1996. This business will achieve sales of nearly e30 million this year. Generators equipped with “constant cycle” technology (concycle) maintain constant voltages and frequencies despite variable rotational speed.

This technology importantly improves the efficiency of wind energy.

Major manufacturing sites are located in the UK, Germany, the US, China, India and Romania.