Billionaire brothers Andreas and Thomas Struengmann Agree to Buy Schuelke & Mayr GmbH ($1.5 billion deal)

Andreas Struengmann and Thomas Struengmann, billionaire brothers from Germany, are set to acquire Schuelke & Mayr GmbH, which produces hand sanitizers. The company is currently owned by EQT AB and the sale will be made to a consortium led by the Struengmanns’ family office, Athos Service GmbH. The deal for EQT’s Schuelke & Mayr GmbH values the Norderstedt, Germany-based company at about €1.4 billion ($1.5 billion). The sale is expected to close in the final quarter of 2023.

EQT AB acquired Schuelke in 2020 from Air Liquide SA of France. The company is present in more than 100 countries and makes disinfectants for hands, skin and surfaces, as well as wound antisepsis products, according to the EQT website.

The brothers (Andreas Strüngmann and Thomas Strüngmann) are worth a combined $20.8 billion. They manage their fortune through their family office, Athos Service, which oversees the brothers’ roughly $10 billion combined stake in BioNTech SE, the German firm that developed a Covid-19 vaccine with Pfizer Inc.

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