Munich, 16 April 2020 Balcke-Dürr, a holding of Mutares SE & Co. KGaA (ISIN: DE000A2NB650), has sold Balcke-Dürr Polska to the Wallstein Group after successful turnaround. Balcke-Dürr Polska is a leading manufacturer of filter systems for conventional power plants and industrial applications. The Warsaw based company is a leading global provider of filter systems, conforming to the highest regulatory requirements in terms of outlet dust concentration in flue gas. Mutares has acquired the company as part of the Balcke-Dürr Group transaction in November 2016. Between 2017 and 2019 the entity has more than doubled its turnover and has increased its profitability almost fourfold.

Since taking over the Balcke-Dürr Group from SPX Corporation based in Charlotte, USA, Balcke-Dürr Polska has been thoroughly repositioned. Focal points of that process have been the internationalisation of the Business, the creation of a competence centre for filter applications as well as ensuring financial independence. Consequently, the entity achieved a technology based competitive advantage which ultimately led to successful bids for a range of large and technically sophisticated projects. In 2019 the company generated turnover of EUR 30 million and an operating result of almost EUR 2 million with a team of 60 employees. The company will act as Wallstein Rothemühle SP. Z O.O. in future and the entire management team will stay on board.

Robin Laik, CEO of Mutares, comments: “This transaction serves as a good example for the Mutares business model: At the time of the acquisition the Polish entity was a neglected unit in the large SPX Corporation. Due to the newfound focus and the successful repositioning we could increase market share substantially. The entity is now in a condition in which the sale to a strategic investor is feasible. Mutares not only managed to put the company on a profitable growth path, but also to sell it to an ideal new owner during these turbulent times. The Wallstein Group is perfectly suited to exploit the deep technical know-how and grow the business going forward.”

Dirk Wallstein, CEO of the Wallstein Group: „Balcke-Dürr Polska as a highly specialised provider of filter systems offers us substantial synergy potential in our Energy and Environment segment. After a successful return to a profitable growth path under the Mutares ownership, we will now focus on further expansion, both geographically and from a product perspective. The introduction into the Wallstein Group will open new applications to the excellent know-how of the teams in Poland. With the acquisition of Balcke-Dürr Polska we not only perfectly complement our heat exchanger portfolio, but we also open up new marketing opportunities in eastern Europe to all of our Wallstein Group Businesses.”