Everstone Capital Acquires Qlar Group from Blackstone Group in Strategic Deal
Everstone Capital Completes Acquisition of Qlar Group
Private equity firm Everstone Capital has completed the acquisition of Qlar Group, formerly known as Schenck Process, from Blackstone. The transaction was announced on May 7, with financial terms of the deal not disclosed. According to sources, the deal is valued between $150-200 million on an enterprise value basis.
Barclays acted as the exclusive financial advisor to Everstone Capital on the transaction. Qlar is a global provider of material handling and processing equipment for industrial applications across mining, food packaging, metals, and cement.
Founded in Germany, Qlar serves customers in sectors including cement, steel, chemicals and performance materials, rail, mining, and food. The company operates production sites across India, China, Germany, the UK, and the Czech Republic. It has a significant presence in India, with 417 employees at two manufacturing sites in Bengaluru and Gurugram.
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Under Everstone's ownership, Qlar will continue to operate under the existing brand and organizational structure, serving customers globally. Everstone will support Qlar's long-term development through continued investment in engineering, innovation, and talent. The focus will be on executing on the company's strategy, strengthening market access and commercial capabilities, and further developing Qlar's solutions portfolio for more efficient, circular, and lower-carbon material processing.
Everstone's Cross-Border Strategy
Qlar highlights Everstone's cross-border strategy of building businesses that serve global markets while leveraging Asia, including India's markets, engineering talent, and operating efficiency. Avnish Mehra, Vice Chairman, Private Equity - Everstone Capital, noted that Qlar is a differentiated industrial technology platform with a strong global footprint and deep engineering capabilities.
Key Highlights of the Acquisition
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| Company | Qlar Group (formerly Schenck Process) |
|---|---|
| Industry | Material handling and processing equipment |
| Sectors served | Mining, food packaging, metals, and cement |
| Locations | India, China, Germany, UK, Czech Republic |
| Employees in India | 417 |
| Manufacturing sites in India | 2 (Bengaluru, Gurugram) |
| Valuation | $150-200 million (enterprise value basis) |
Everstone will support Qlar's growth through continued investment in engineering, innovation, and talent. The partnership aims to strengthen market access and commercial capabilities, and further develop Qlar's solutions portfolio for more efficient, circular, and lower-carbon material processing.
Investor Takeaway
Everstone Capital's acquisition of Qlar Group may have a medium-term impact on the market, but the financial terms of the transaction were not disclosed.
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