Anhydro agrees to sell its business within the food, pharmaceutical, and chemical industries to SPX

Anhydro, one of the leading and most important suppliers of technology and plants for evaporation and drying, has entered into an agreement with SPX Corporation's Flow Technology segment, to sell its businesses within the food, pharma and chemical industries.

• Since 2004 the turnover of the Anhydro Group has more than doubled, the business activities have been globalized and the earnings capacity improved
• The Bio ethanol-, brewery, and filter businesses continue as separate independent entities
• The previous Anhydro daughter companies, which are not included in the acquisition, will conduct their activities under following names: Dedert Inc., Vettertec GmbH, Vettertec Ltd. and Simatek A/S
• The closing of the transaction is subject to e.g. approval of relevant competition authorities and it is expected to be finalised by the end of Q3 2010.

"We have achieved a set of strategic and financial objectives for Anhydro, and we are pleased to have found an industrial owner dedicated to the continued development of a core part of the company. We have made an attractive deal with SPX, which will strengthen their product portfolio with Anhydro's process technology," says Partner Torben von Lowzow from Nordic private equity firm CapMan, who has owned Anhydro since 2004.

Since 2004 the Anhydro Group has more than doubled turnover and the group has become global. In the same period the earnings has improved.

"Thanks to our employees we have been able to develop Anhydro and establish the present position within the dairy and food business, as well as in the chemical- and pharmaceutical industries. We now get an opportunity to continue the development of Anhydro's position within drying and evaporation for breweries, especially in relation to the 2nd generation bio ethanol plants. We have high expectations for these opportunities," says Anhydro's Chairman Jørgen Ajslev.

"The future for the company looks promising, not least because we recently published that we had won the biggest order in the company's history, as well as a number of other major orders," says Jens Løgstrup, CEO of the Anhydro Group.

In the future, CapMan as the major owner will focus on the activities within the brewery and bio ethanol industries (Dedert Inc., Vettertec GmbH, Vettertec Ltd), which are expected to grow considerably in the coming years as well as on the filter activities in Simatek A/S, where a newly developed technology within flue gas cleaning is expected to contribute considerably to future development.