The Romaco Group is selling its stake in FrymaKoruma AG (Rheinfelden, Switzerland) and FrymaKoruma GmbH (Neuenburg) to a new umbrella corporation within the Deutsche Beteiligungs AG (DBAG Frankfurt).
"During more than ten years in affiliation with the Romaco Group, FrymaKoruma developed very well. We are pleased to offer a further growth spurt to the company in a group that specializes in process technology. Through this transaction, Romaco will focus even more on the development of its competences, especially in the pharmaceuticals market," said Paulo Alexandre, CEO of the Romaco Group, in a news release.
The companies Stephan Machinery (Hameln) and FrymaKoruma will be under the new umbrella corporation ProXES. Both companies have brands in the area of food, pharmaceutical and health care technology and see an opportunity to complement its previous applications and market presence in future.
"Within the Romaco Group, we were already able to make use of significant incentives for the development of FrymaKoruma," said Thomas Merle, director of FrymaKoruma. "We are very pleased that we can now realize previously unknown possibilities within our core business with the help of ProXES and its clear focus on process technology."
Olaf Pehmöller, CEO of Stephan Machinery, said he is happy about the new partner. "FrymaKoruma and Stephan Machinery complement each other to the benefit of both companies. For our customers, we are developing a process technology group consistent with an enterprise size which can offer more attractive proposals in better quality, says Pehmöller, who will also act as CEO for the ProXES Group.
ProXES stands for 'Processing and eXpert Engineering Services.'
"With FrymaKoruma and Stephan Machinery, we have two companies which are active on the market with strong brands and an excellent reputation. The combining of the respective excellences is the logical consequence of our growth strategy which we will now implement in a focussed way," said Rolf Scheffels, member of the board of the Deutsche Beteiligungs AG.