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Billionaire Struengmann Brothers Agree to Buy EQT’s Schuelke (1)

Aug. 7, 2023, 11:35 AM UTC
Aaron Kirchfeld
Aaron Kirchfeld
Bloomberg News
Eyk Henning
Eyk Henning
Bloomberg News
Swetha Gopinath
Swetha Gopinath
Bloomberg News

Billionaire German brothers Andreas and Thomas Struengmann have agreed to acquire Schuelke & Mayr GmbH, the maker of hand sanitizer owned by EQT AB.

The sale to a consortium led by the Struengmanns’ family office, Athos Service, was announced in a statement on Monday that confirmed an earlier Bloomberg News report.

Financial details were not disclosed. The deal values Schuelke at about €1.4 billion ($1.5 billion), people with knowledge of the matter said, asking not to be identified discussing confidential information.

Thomas Struengmann
Photographer: Robert Brembeck/VISUM/Redux

EQT acquired Schuelke in 2020 from Air Liquide SA of France. The German firm was ...

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