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Senata GmbH, a family-owned group from Freising, Germany, has acquired Parat Group, a plastics specialist based in Neureichenau, Germany, with operations in Hungary, Romania, and China. The deal includes 1,000 employees and annual revenue of €110 million.
Babcock Wanson Group, with support from majority shareholder Kartesia, has acquired Norwegian company Parat, a leader in high-voltage boilers, and PBS Power Equipment, a Central European industrial boiler solutions provider. The acquisitions strengthen Babcock Wanson's position in the European energy transition market.