After all required regulatory approvals were received, Voith successfully closed on the acquisition of BTG on December 1, 2019. The Swiss-based company offers a high-value portfolio of optimized and customized solutions for a range of applications, primarily for paper manufacturers.
“The acquisition of BTG is an important strategic step for Voith. With BTG and its portfolio that is highly complementary to our own products and services, we strengthen our position as a full-line supplier,” states Andreas Endters, CEO of Voith Paper.
The agreement for the acquisition was signed on September 19 between Voith and Spectris plc, the former parent company of BTG, for a total gross cash consideration of €319 million. BTG will remain entrepreneurial in nature and will operate under the established BTG brand. Therefore, Voith and BTG customers will be able to purchase via their existing sales channels as usual.
BTG supplies companies mainly in the areas of packaging, graphic papers and tissue. Its portfolio includes beds and rods for film-metering size presses, high-performance ceramic and cermet coating blades, and pulp and paper process control sensors and laboratory instruments. Moreover, BTG is a decisive partner in the digital transformation of the pulp and paper industry with its offerings in the areas of data analytics, automation and software.
“We are very excited with the acquisition of BTG by Voith. Together, we will have some tremendous opportunities to deliver more value to our customers, including integrated technologies, as well as Papermaking 4.0 and IIoT solutions. We are looking forward to joining forces with Voith. This will also present more opportunities for our employees going forward,” says Rob Crossman, BTG President.