IK Partners, through its IK VIII Fund, has agreed to sell MDT technologies, a KNX-based building automation platform, to BU Bregal Unternehmerkapital. Completion remains subject to customary regulatory approvals. Financial terms of the transaction were not disclosed.

Founded in 1984 and headquartered in Engelskirchen, Germany, MDT specializes in wired and wireless KNX components, sensors and cloud-enabled management systems that automate heating, ventilation and lighting in residential and commercial buildings. The company employs approximately 250 people and has a growing presence in Europe, India and the Middle East. Since IK Partners' investment in March 2020, MDT has more than doubled its output and expanded its product portfolio to around 600 actuators, sensors and system devices.

The company has also built out dedicated sales, marketing and technical support functions and moved from a founder-led structure to a full C-suite with expanded leadership across research and development, operations and finance. MDT has further built out its technology and product offering through the acquisitions of Tense, Tapko and Apricum, adding design expertise and broadening its KNX software capabilities and geographic reach. The company has also set science-based emissions reduction targets and sources 95 percent of its electricity from renewable sources.