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Truking completes acquisition of majority stake in Romaco

By Gareth MacDonald+

13-Jul-2017

iStock/Ruskpp
iStock/Ruskpp

Chinese processing technology firm Truking Group has completed the acquisition of a majority shareholding in Germany’s Romaco GmbH.

The sale – which was announced in May – gives Changsha–based Truking a 75.1% stake in Romaco.

Former owner - private equity fund Deutsche Beteiligungs (DBAG) - has agreed to sell its remaining shares within the next three years.

Truking Chairman Yue Tang said the firm plans to invest to increase capacity, citing the plant the firm is planning to build in Bologna, Italy and the new processing technology R&D laboratory due to be set up in China as examples.

He said: “We’re ready to grow. Our aim is to take Romaco forward and increase our share of the global markets with a mixture of confidence, determination, patience and endurance.”

Ownership

DBAG acquired Romaco from Robbins & Myers, in 2011.

Under the German fund’s ownership, Romaco has acquired Kilian GmbH and Innojet GmbH, completed the integration of Medipac AB and sold its subsidiary, FrymaKoruma.

According to DBAG, Romaco’s annual sales have increased 50% under its ownership. Romaco generated revenue of €134.3m ($146.5m) in the 2016 fiscal year.

China-based Truking makes plant and equipment for the pharmaceuticals industry, specializing in the processing and filling of sterile and non-sterile pharmaceutical liquids.

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