

Everstone Capital acquires Germany’s Qlar Group in $150-200 million deal
Subscribe to enjoy similar stories.MUMBAI: Private equity firm Everstone Capital has acquired Germany-based industrial equipment maker Qlar Group from Blackstone, the companies said in a statement on Thursday.While the companies did not disclose financial details, the transaction is estimated to be worth $150-200 million, including equity and debt, according to a person familiar with the matter.The acquisition underscores Singapore-based Everstone’s push to back global manufacturing and engineering businesses with significant operations in India and Asia. Qlar derives about 25% of its revenue from India, the person said.“Qlar is a differentiated industrial technology platform with a strong global footprint and deep engineering capabilities,” said Avnish Mehra, vice chairman, private equity at Everstone Capital, adding that the company’s operations in India and Asia position it to benefit from competitive manufacturing and proximity to high-growth markets.“We see a clear opportunity to build on these strengths, supported by our cross-border experience and network, to drive disciplined and sustainable growth,” he added.Everstone said it will partner with Qlar’s management team to strengthen market access and commercial capabilities while expanding the company’s portfolio of lower-carbon and circular material-processing solutions.