Syntagma Capital announces today that it has entered into exclusive negotiations with Eramet to acquire Erasteel (the company is a world leader inconventional and powder metallurgy of high-speed steels used for high-performance machining, drilling and cutting tools. In addition, Erasteel has unique metal recycling capabilities in Europe, offering sustainable solutions for recovering batteries, catalysts and metals. The company employs around 850 people at its six locations in France, Sweden and China. In 2022, Erasteel generated around €275 million in revenue, primarily serving the aerospace, automotive and industrial sectors.
The proposed transaction, which will be subject to necessary information and consultation with works councils, is subject to a definitive agreement that will include the fulfillment of customary closing conditions, including regulatory approvals, and is expected to be completed by the end of the first half of 2023.
“Despite a very challenging M&A market, Erasteel represents our second deal in 2023 and our third deal in the past 6 months, reflecting our ability to provide sellers with speed and certainty. We are excited about the prospect of further developing Erasteel globally. Erasteel is also our third division and further strengthens our position as the preferred partner in Europe for complex extractions,” said Syntagma Managing Partner Sebastien Kiekert Le Moult.
“We intend to leverage our worldwide metals experience and Erasteel’s broad technical and R&D expertise, international presence and strong customer relationships to further enhance its growth, both organically and through targeted mergers and acquisitions. We also intend to accelerate the development of Erasteel’s recycling division in France”, said Frank Coenen, Partner at Syntagma.
The Syntagma team involved in the transaction included Sebastien Kiekert Le Moult (Managing Partner), Frank Coenen (Partner), Benjamin Dahan (Partner), Fabio Yamasaki (Director), Gabriele Lo Monaco (Senior Associate).
Syntagma was advised by Willkie Farr Gallagher (legal advisory), Lincoln International (mergers and acquisitions advisory), PwC (financial advisory) and Advention Business Partners (commercial and strategic advisory).
Sobre a Syntagma Capital
Syntagma invests in companies that can benefit from hands-on operational experience in order to accelerate growth and improve performance for all stakeholders. We are true operators with experience, working and managing companies on a global scale, leveraging our in-house resources to develop successful strategies, execute them to realize their full potential and deliver long-term sustainable value. Syntagma invests in and operates companies in a wide range of sectors with a specific focus on the materials, chemical, industrial and commercial services markets, including manufacturing, distribution, transportation and logistics, equipment leasing, metallurgical services and other sectors. Syntagma, as a signatory to the UN PRI, is committed to high ESG standards in all its investments and is headquartered in Brussels, Belgium. For more information, visit:
The original language text of this announcement is the official authorized version. Translations are provided as a convenience only and must refer to the original language text, which is the only version of the text that is legally binding.
View the original version on businesswire.com:
Contact:
Marie Ciparisse
Tel.: +32 (0)2 315 70 12
E-mail [email protected]
Source: BUSINESS WIRE
