Spectris plc, an instrumentation and controls company, has agreed with Voith GmbH & Co. KGaA for Voith to acquire BTG Group from Spectris for a total gross cash consideration of €319 million. The sale is in line with Spectris’ strategy to simplify and focus our portfolio and to concentrate on developing its presence in specific high-growth end markets.
BTG, part of Spectris’ Industrial Solutions segment, provides specialized measuring instruments, software and services to customers to help deliver improved operational performance, cost management and enhanced quality for the pulp and paper industry. In this context, Spectris believes BTG’s next stage of development can be better fulfilled under Voith’s ownership, given its notable presence in the global paper market.
Commenting on the transaction, Andrew Heath, Spectris chief executive, said: “The sale of BTG represents our first step in executing our strategy for a more focused business and delivers compelling value for shareholders. Voith is a highly respected player in the pulp and paper market and BTG is highly complementary to their product offering. I would like to take this opportunity to thank all of our BTG employees for their contribution to Spectris over the years and wish them well in the next stage of their journey.”