Aug 10, 2023

Septuagenarian billionaire twins from Germany are quietly remaking the world of health care—and it all started with a vaccine

Posted by in categories: biotech/medical, finance, health

The Struengmann brothers’ agreement Monday to lead the purchase of a hand-sanitizer maker owned by EQT AB alongside other investors marks at least the sixth major deal involving the billionaire twins and the Swedish private equity firm within the past decade, according to data compiled by Bloomberg.

The deal for EQT’s Schuelke & Mayr GmbH values the Norderstedt, Germany-based company at about €1.4 billion ($1.5 billion), people with knowledge of the matter have said, asking not to be identified discussing confidential information. Financial details weren’t disclosed. The sale is expected to close in the final quarter of 2023, according to a news release Monday.

A representative for the Struengmanns didn’t respond to a request for comment. The 73-year-old brothers are together worth about $24 billion, according to the Bloomberg Billionaires Index.

Leave a reply