Spectris and the Voith Group have reached an agreement for the Voith Group to acquire BTG. BTG is a key player in the pulp and paper industry and a differentiated supplier of consumables, instruments and software, focused on productivity and quality.
The BTG story began in 1921 and over the course of the following decades, the company invented, developed and applied a broad range of products including ceramic high-performance coating blades. Through various acquisitions, notably Mütek, IPI and Capstone Technology Corporation, BTG has expanded its portfolio of sensors, analysers and metering technologies and added software capability to connect, manage and deliver further customer value with the BTG hardware portfolio.
Today, with this complementary portfolio, BTG is well equipped to deliver solutions that have an economic impact on the mill performance, delivering sustainable benefits to our customers. The Voith Group is a global technology company. With its broad portfolio of systems, products, services and digital applications, Voith sets standards in the markets of energy, oil & gas, paper, raw materials and transport & automotive.
Founded in 1867, the company today has more than 19,000 employees, sales of € 4.2 billion and locations in over 60 countries worldwide and is thus one of the large family-owned companies in Europe. “We are excited about this opportunity. Voith is a well-respected player in the paper industry and our offering is highly complementary to theirs. As part of the Voith Group, we will be able to offer our employees and our customers more opportunities, supporting BTG growth and allowing us to realise our full potential”, says Rob Crossman, BTG CEO.
“With BTG we found an ideal match to complement our portfolio and to add a high performing company, with a widely recognised expertise in the pulp and paper market. This helps us to expand our competitive position as a Full-Line Supplier for the paper industry in the areas of consumables, services and software”, states Toralf Haag, President & CEO of the Voith Group.
The transaction is expected to close late in the fourth quarter of 2019, subject to obtaining all of the regulatory approvals as well as other customary closing conditions. The parties agreed not to disclose further financial details regarding to this transaction.