Tessenderlo Group NV has acquired Picanol Group NV

Tessenderlo Group NV has acquired Picanol Group NV through a public exchange offer.

Leveraging its expertise in chemical processes, Tessenderlo Group is active in the manufacturing and processing of products for various end markets in the agro, bio-valorization, Industrial solutions and T-power sectors. With more than 4,800 employees at over 100 locations worldwide, Tessenderlo Group is a world leader in most of the markets in which it is present. Its customers mainly operate in the agriculture, food, industry, construction, health and consumer goods end markets.

Picanol Group is the parent company of a diversified industrial group and is active worldwide in the fields of mechanical engineering, agriculture, food, energy, water management, the efficient (re)use of natural resources and other industrial markets with a focus on water. Picanol Group’s products are used in a variety of applications, industrial and consumer markets. The group has approximately 7,000 employees worldwide (including the employees of Tessenderlo Group). Picanol Group’s activities are divided into five business segments, namely machines and technologies, agro, bio-valorization, industrial solutions and T-power. The last four segments are operated by Tessenderlo Group. The machines and technologies segment is active in the development, production and distribution of high-tech weaving machines based on air (air jet) or rapier technology.

Oaklins’ team in Belgium acted as the exclusive financial advisor to Tessenderlo Group.