German transformer maker SGB-SMIT sold to One Equity Partners

Buyout group BC Partners has sold German transformer manufacturer SGB-SMIT to peer investor One Equity Partners, after failing to reach a deal to merge it with the power transformer unit of the French electrical components maker Schneider Electric, according to Reuters.

Although terms of the transaction have not been disclosed, Reuters cites two people close to the matter who said that the company was valued at just below 700 million euros ($759.36 million) including debt.

BC Partners had launched the sale of SGB-SMIT in 2016, four years after a sale to China’s State Grid was halted by political intervention.

Source: Reuters