FrymaKoruma will become part of ProXES process technology company with Stephan Machinery
Romaco Group, a German specialist supplier of processing and packaging technology, is selling its stake in FrymaKoruma to a new umbrella company within private equity firm Deutsche Beteiligungs (DBAG Frankfurt). No financial details have been revealed.
Paulo Alexandre, CEO of the Romaco Group, said the company was pleased to offer a 'further growth spurt to FrymaKoruma' in a group that specialises in process technology. Romaco will now focus on the development of its competences, particularly in the pharmaceuticals market, he said.
FrymaKoruma and Stephan Machinery (Hameln) will cooperate in the future under the joint umbrella company ProXES (Processing and eXpert Engineering Services). Both companies have strong brands in the area of food, pharmaceutical and healthcare technology. They will make their first joint appearance at next month's Interpack exhibition at Messe Düsseldorf, Germany.
'Within the Romaco Group, we were already able to make use of significant incentives for the development of FrymaKoruma,' said Thomas Merle, Director of FrymaKoruma. 'We are very pleased that we can now realise previously unknown possibilities within our core business with the help of ProXES and its clear focus on process technology.'
Olaf Pehmöller, CEO of Stephan Machinery, who becomes CEO at ProXES, added that FrymaKoruma and Stephan Machinery complement each other to the benefit of both companies. 'For our customers, we are developing a process technology group consistent with an enterprise size which can offer more attractive proposals in better quality,' he said.