Everstone Capital Acquires Qlar Group from Blackstone

Everstone Capital, the private equity arm of the Everstone Group headquartered in Singapore, has finalized the acquisition of Qlar Group, formerly known as Schenck Process, from Blackstone. Although financial terms were not disclosed, the transaction marks a strategic investment in the industrial manufacturing sector, focusing on sustainable material processing technologies.

Qlar Group is a leading global supplier of equipment and integrated solutions for bulk material handling and processing across critical industrial sectors such as cement, steel, chemicals, rail, mining, and food. Headquartered in Darmstadt, Germany, Qlar employs over 1,100 people and operates production facilities in India, China, Germany, the UK, and the Czech Republic.

Under Everstone’s ownership, Qlar will maintain its existing brand and organizational structure while benefiting from continued investment in engineering, innovation, and talent development. The partnership aims to accelerate Qlar’s strategy execution, enhance market access, and expand its commercial capabilities globally.

Dr. Jörg Ulrich, CEO of Qlar Group, stated, “The partnership with Everstone marks an exciting new chapter for Qlar. We are confident that Everstone’s experience in supporting engineering-led, international businesses will help us execute our strategy and strengthen our purpose of driving sustainable transformation within our industries, while continuing to be a reliable partner to customers worldwide.”

Everstone Capital focuses on control-oriented, mid-market investments across high-growth sectors including technology, healthcare, consumer, financial services, and industrials. The firm’s platform-building approach combines operational expertise with strategic capital to unlock sustainable value and drive long-term growth.

Avnish Mehra, Vice Chairman of Private Equity at Everstone Capital, commented, “Qlar is a differentiated industrial technology business with a strong global footprint and deep engineering capabilities. Its German heritage and technical expertise provide a solid foundation for long-term development, complemented by its significant operations in Asia that further support customer access and growth across key markets.”

Qlar’s product portfolio includes industrial weighing, feeding, conveying, milling, grinding, and digital applications under the CONiQ brand. The company operates four global test centers and six competence centers, leveraging extensive know-how from over 40,000 bulk materials to optimize solutions for customers.

The acquisition supports Qlar’s commitment to driving circular transformation by developing more efficient, lower-carbon material processing technologies. Everstone plans to build on Qlar’s well-established aftermarket and service business, which provides ongoing support to customers and generates recurring revenue streams.

Peter Graham, Managing Director of Unison Asia and advisor to Everstone, added, “Qlar has established a strong position in critical industrial applications, underpinned by deep process expertise and long-standing customer relationships. We see clear potential to build on these strengths together with the management team, broaden commercial opportunities and support continued development across key global markets.”

Market trends indicate growing demand for sustainable and circular industrial solutions, driven by regulatory pressures and corporate decarbonization goals. Qlar’s enhanced product offerings and expanded global reach position it well to capitalize on these trends, potentially increasing competitive pressure on peers.

While integration challenges include maintaining Qlar’s brand identity and aligning strategic priorities, Everstone’s active ownership model and operational expertise aim to mitigate risks and support seamless transition.

Looking ahead, Everstone and Qlar plan to focus on innovation, expanding aftermarket services, and strengthening global commercial capabilities to capture new markets in Asia-Pacific, North America, and Europe.

This acquisition underscores Everstone’s commitment to investing in industrial technology companies with strong engineering foundations and sustainable growth potential.