Pamplona Capital Management is the latest firm to leave the bidding process according to Reuters, which said there had also been interest from an Asian company.
Final bids are expected in September, with associated debt packages anticipated at about five times the company’s €80m EBITDA.
The firm is understood to be running a dual track process which could result in either an IPO or a straight sale of its stake in the German company.
IK agreed to buy Schenck from HgCapital in August 2007 for about €450m, and has grown the business through three add-on acquisitions.
Schenck specialises in industrial weighing, feeding, screening and automation equipment, employs around 3,000 people and generates annual sales of over €500m.
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