Deutsche Beteiligungs, the German private equity firm, has bought the power plant service division from Babcock Borsig, the German engineering group that went bankrupt last year.

The selling price was not disclosed, although Deutsche Beteiligungs is believed to have paid the insolvency receiver less than its €400m ($433m) turnover. Deutsche Beteiligungs invests in companies with an enterprise value of between €50m and €250m.