DUSSELDORF, Germany (Oct. 31, 2007) — A private equity firm has purchased polyurethane equipment maker Hennecke GmbH from Bayer MaterialScience L.L.C.
The acquisition by Adcuram Industriekapital A.G for an undisclosed amount follows Bayer A.G.'s announcement in March that it planned to sell the Hennecke business. Adcuram said the purchase will benefit Hennecke because PU machinery maker wasn't a core business for Bayer.
Florian Meise, a board member of Munich-based Adcuram, announced the sale on Oct. 30 at a press conference during the K 2007 trade show in Dusseldorf. He said the investment company has committed to not selling Hennecke for at least five years.