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DealsKresta industries sold Kresta Paper GmbH to GapCon

MP Corporate Finance acted as the exclusive financial advisor to Austria-based Kresta industries GmbH in the sale of the technology centre for pulp & paper industry, Kresta paper GmbH, to German GapCon GmbH.

KRESTA paper GmbH was founded in 2014, in St. Poelten, Austria and today employs approximately 40 specialists with extensive experience in paper machine technology including process technology, planning and automation. Following the transaction, Kresta paper GmbH will be rebadged as GapCon paper GmbH and will become an independent member of the GapCon group, itself a subsidiary of the German IRLE DEUZ group.

Established in 2006, the GapCon group offers a comprehensive array of services across all aspects of paper machine technology from sales, engineering and manufacture to rebuilds, relocations and complete turn-key project delivery. GapCon has pursued a robust growth strategy opening or acquiring bases in Italy, India and China. Through the acquisition, GapCon further strengthens its positioning as a specialist in pulp & paper.

KRESTA industries will remain supplier and service provider for the pulp & paper industry. In addition, the group advances its international expansion in the area of complex industrial plant construction with a particular focus on the chemical and petro-chemical industry as well as wood, food and pharma industries.