3i to divest stake in cleantech company hte AG
3i, a leading global private equity company, has agreed to divest its stake in leading German cleantech company hte AG to BASF.
The financial details of the transaction, which is subject to the approval of the antitrust authorities, have not been disclosed.
hte, which stands for high throughput experimentation company, provides technology services and solutions that significantly enhance research and development productivity in the areas of catalysis, material science and formulations for clients in the energy, chemical and environmental sectors.
3i first invested in the Heidelberg-based business in 2003. In the time of 3i’s investment, the company successfully diversified its customer portfolio while roughly tripling its revenues. Today, the company has a headcount in excess of 150 people.
3i Director Hansjoerg Sage commented on the deal: “This has been a successful investment for 3i in the cleantech sector. We are proud to have supported hte in becoming a market leader in the field of high throughput experimentation for environmental catalysis. The outstanding management team and world-class employee base were at the heart of this success. Going forward with BASF, hte is superbly positioned to benefit from its impressive and proven product portfolio and strong market demand.”
Cleantech embraces a cluster of leading-edge technologies which address many of the world’s key concerns by making better use of resources and finding cleaner, greener ways to build prosperity. 3i has actively invested in the sustainable technology field for over 20 years, most recently in businesses such as Deutz Power Systems, Electrawinds and Gamesa. Recent realisations include E.R.M., Insensys and Zero Waste.
3i is a world leader in private equity and venture capital. We focus on buyouts, growth capital, venture capital, infrastructure and Quoted Private Equity and invest across Europe, the United States and Asia. Our competitive advantage comes from our international network and the strength and breadth of our relationships in business. These underpin the value that we deliver to our portfolio and to our shareholders.
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