SYNTAGMA CAPITAL enters into exclusive negotiations, to acquire Erasteel, the high-speed steels and recycling division of Eramet S.A. (Euronext Paris: ERA)
Syntagma Capital today announces that it has entered into exclusive negotiations with Eramet, to acquire Erasteel (https://www.erasteel.com). The business is a global leader in the conventional 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 the recovery of batteries, catalysts and metals. The business employs ca. 850 employees across its six sites in France, Sweden, and China. In 2022, Erasteel generated ca. €275m in revenues serving primarily the aerospace, automotive and industrial sectors.
The proposed transaction, which will be submitted to the required information and consultation of works councils, is subject to definitive agreement which will include the fulfillment of customary closing conditions, including regulatory approvals, and would be 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 last 6 months, reflecting our ability to provide sellers with speed and certainty. We are excited by the prospect to further develop Erasteel on a global basis. Erasteel is also our third carve out and further strengthens our position as a Partner of choice in Europe for complex carve-out” said Syntagma Managing Partner Sebastien Kiekert Le Moult.
“We intend to leverage our global experience in metals and Erasteel’s extensive R&D and technical know-how, global presence and strong customer relationships to further enhance its growth, both organically and through targeted M&A. We also intend to accelerate the development of the recycling division of Erasteel in France” said Syntagma Partner Frank Coenen.
Syntagma’s team involved in the transaction included Sebastien Kiekert Le Moult (Managing Partner), Frank Coenen (Partner), Benjamin Dahan (Partner), Fabio Yamasaki (Principal), Gabriele Lo Monaco (Senior Associate).
Syntagma was advised by Willkie Farr Gallagher (legal counsel), Lincoln International (M&A advisor), PwC (financial adviser), and Advention Business Partners (commercial and strategy advisor).
About Syntagma Capital
Syntagma invests in companies that can benefit from hands-on operational expertise to accelerate growth and improve performance for all stakeholders. We are true operators with experience working in and managing companies on a global scale, leveraging our in-house resources to develop successful strategies, execute them to realize their full potential and create sustainable long-term value. Syntagma invests and operates companies in a broad range of industries with a specific focus on the material, chemical, industrial and business services markets and including manufacturing, distribution, transportation and logistics, equipment rental, metals services and other industries. Syntagma, as signatory of the UN PRI, is committed to high ESG standards across all its investments and is based in Brussels, Belgium. For more information, please visit: https://syntagmacapital.com
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230222005754/en/
Contact information
Marie Ciparisse
Phone: +32 (0)2 315 70 12
Email mciparisse@syntagmacapital.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Truespeed accelerates fiber network expansion with Adtran23.3.2023 16:00:00 EET | Press release
Adtran today announced that Truespeed is leveraging its fiber broadband technology to provide high-speed connectivity to more customers across the South West of England. The new network includes Adtran’s XGS-PON technology, which enables the service provider to deliver current speed tiers of up to 900Mbit/s to households and up to 10Gbit/s to its enterprise customers. The multigigabit solution empowers Truespeed to connect subscribers significantly faster while streamlining its infrastructure with fewer equipment locations in the network. “Too often, broadband providers fail to deliver services that match their marketing hype. At Truespeed, we do things differently. We’re harnessing the most advanced software-defined access innovations available to provide fiber connectivity all the way into our customers’ homes and business premises. With Adtran’s open and programmable technology, we can guarantee ultra-fast speeds and 24/7 reliability,” said James Lowther, CEO of Truespeed. “We’ve al
American Express Reveals 2023 Top Travel Trends23.3.2023 16:00:00 EET | Press release
American Express Travel® released their 2023 Global Travel Trends Report today, highlighting four global trends inspiring people to travel this year: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230323005091/en/ American Express Travel's 2023 Global Travel Trends Report The Rise of “Set-Jetting”: Popular movies, TV shows and social media are inspiring people to travel to places they see onscreen, like Italy, Paris, Yellowstone, and London Delicious Destinations: From top restaurants to local favorites to cooking classes, people are choosing their next destination based on what they’ll eat A Wellness Wave: Restorative vacations are on the rise as travelers prioritize self-care and mental and physical health Traveling Off the Beaten Path: Travelers want to discover hidden gems and support the local community when they visit The report, based on survey data from travelers from the United States, Australia, Canada, Mexico, Jap
FitXR expands VR Fitness offering to PICO23.3.2023 16:00:00 EET | Press release
FitXR is continuing to expand its popular virtual reality (VR) fitness offering with the UK, EU and Asia markets by launching on the popular PICO VR headsets. FitXR’s launch on PICO represents its commitment to make VR fitness accessible to all, irrespective of the user’s preference in hardware choice. As the mass market appeal in VR continues to grow, it will bring with it increased interest in hardware developers, innovation and consumer choice and in turn the desirability in multi-platform offerings like FitXR. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230323005314/en/ (Photo: Business Wire) In January 2023, FitXR launched two new studio offerings: Sculpt and Combat, to add to its already robust suite of offerings that include High Intensity Interval Training (HIIT), Dance and Box workout options. The launch of Sculpt (workouts inspired by barre, pilates, and isometric strength training) and Combat (workouts inspired
Altum Technologies Selected by Chevron Technology Ventures for Catalyst Program23.3.2023 16:00:00 EET | Press release
Altum Technologies, a Finnish company that has developed a patented method of cleaning technology, has been selected to participate in Chevron Technology Ventures (CTV) Catalyst Program. The deep tech company has developed a market-leading power ultrasound solution that improves process efficiency without stopping production. The collaborative program gives Altum Technologies the platform to further advance and deploy its Zero Process Downtime (ZPD) technology globally. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230323005027/en/ Altum Technologies has been selected to participate in Chevron Technology Ventures (CTV) Catalyst Program. The deep tech company has developed a market-leading power ultrasound solution that improves process efficiency without stopping production. (Graphic: Business Wire) Fouling and scaling are problems in most industrial processes that causeperiodic planned and unplanned shutdowns for difficult
AI/ML Capabilities Fall Short of Executive Expectations, According to a New Global Study by SoftServe23.3.2023 14:05:00 EET | Press release
New data released today by SoftServe indicates a dramatically different understanding of the value of artificial intelligence and machine learning (AI/ML) among executives at software and digital native companies. Interest in AI/ML has been heightened with the recent release of tools such as ChatGPT and the rollout of AI-powered Microsoft Bing. However, SoftServe's survey of nearly 600 IT leaders across nine countries tells a story of significant eagerness for AI/ML, but a great disappointment with it. While 56% say leadership should consider AI/ML an urgent priority to drive business results, 52% say it should be a priority to retain and appeal to skilled talent. Conversely, 72% of IT leaders say their executive team does not fully understand the technical capabilities of AI/ML and its potential for business success. Furthermore, of those surveyed, 42% say their leadership is not treating AI/ML as urgently as it should be — to the point where this vital investment is falling down the
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom