According to relevant media sources, FLSmidth Cement, the cement business unit of FLSmidth Group, Was acquired in October by an affiliate of Pacific Avenue Capital Partners ( "Pacific Avenue"), a global private equity firm, and renamed Fuller Technologies.
In June this year, FLSmidth, a Danish multinational giant with a history of 130 years, suddenly announced a major strategic adjustment: it sold its cement business to a subsidiary of Pacific Avenue Capital Partners, a private equity firm, for 150 million euros (about 1.16 billion yuan).
FLSmidth, founded in 1882, is a well-known multinational company in the world cement equipment industry, providing a complete set of cement technology and equipment and high-quality engineering services, with a history of 130 years. It has four major technical centers in Denmark, the United States and India, and has branches or offices in more than 50 countries around the world, with more than 13,000 employees worldwide. So far, FLSmidth has provided nearly 2400 cement kilns, more than 4500 pulverizers, and more than 10,000 sets of other special cement equipment to cement plants all over the world.
Separately, FLSmidth has announced the sale of its headquarters office and plot in Valby, Copenhagen, Denmark, for 730 million Danish kroner ( $112.7 million). The company has been based in Valby since 1899. Its iconic red brick building, designed by architect Palle Suenson, was inaugurated in 1956. The company's new corporate headquarters will be located in Havneholmen, Copenhagen, and is currently scheduled to move by the end of 2025.
Pacific Avenue Capital Partners ( "Pacific Avenue") is a Los Angeles, California-based private equity firm focused on mid-market corporate divestitures, spin-offs, and other complex situations. Unlock value through operational improvements, capital investments, and accelerated growth.
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