The deal – which is still subject to regulatory approval – saw private equity fund Deutsche Beteiligungs (DBAG) sell 75.1% of its holding in Romaco and agree to sell its remaining shares over the next three years.
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.
Chairman Yue Tang, Chairman of Truking said: “We are confident that the acquisition of Romaco represents a win-win situation for all the parties concerned.
Tang added: “Romaco will benefit from the change in ownership through an increased share of the Chinese market and Truking will also be able to exploit outstanding opportunities for growth on European and transatlantic markets.”
This was echoed by Paulo Alexandre, Romaco Group CEO, said: “The product portfolio and the regional strengths of both companies complement each other very well without any overlapping. There are also very attractive growth opportunities for Romaco in China.”
He added that: “Romaco will continue to have a completely free hand to pursue its business objectives. This autonomy includes the entire value chain, from product development through to customer service.