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IK looks to sell Schenck

IK Investment Partners, the pan-European private equity firm with Nordic roots, is preparing to offload German industrial weighing specialist Schenck Process.

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IK Investment Partners, the pan-European private equity firm with Nordic roots, is preparing to offload German industrial weighing specialist Schenck Process.

Morgan Stanley has been mandated to test the markets, Reuters reports, and it is thought a sale to another private equity house is likely. 

HgCapital bought the business from Durr in 2005 and pushed it into the the coal equipment sector before selling on to IK in 2007. 

IK's purchase price was not disclosed at the time, but it is thought to have paid around €450m. 

The private equity firm has made three bolt-ons to Schenck, which today has 3,000 employees and turns over more than €500m.