3i Sells HTE Stake

UK-listed private equity firm 3i has sold its stake in German cleantech company hte AG to European chemical firm BASF. Financial details of the deal have not been disclosed.

3i invested in the Heidelberg-based business in 2003, since when the company has diversified its customer portfolio and tripled its revenues.

hte stands for high throughput experiementation. The company is a provider of technology services to clients in the energy, chemical and environmental sectors.