SYNTAGMA CAPITAL IN EXCLUSIVE NEGOTIATIONS WITH ERAMET TO ACQUIRE ERASTEEL

KUALA LUMPUR, Feb 23 (Bernama) -- Syntagma Capital announced it has entered into exclusive negotiations with Eramet, to acquire Erasteel, a global leader in the conventional and powder metallurgy of high-speed steels used for high performance machining, drilling and cutting tools.

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, expected to be completed by the end of first half of 2023.

Syntagma Managing Partner, Sebastien Kiekert Le Moult said Erasteel represents the company’s second deal in 2023 and third in the last six months, reflecting its ability to provide sellers with speed and certainty, despite a very challenging mergers and acquisitions (M&A) market.

“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,” he said in a statement.

Meanwhile, Syntagma Partner, Frank Coenen said: “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.”

Syntagma’s team involved in the transaction included Le Moult, Coenen, Benjamin Dahan (Partner), Fabio Yamasaki (Principal) and Gabriele Lo Monaco (Senior Associate).

Syntagma was advised by Willkie Farr Gallagher (legal counsel), Lincoln International (M&A adviser), PricewaterhouseCoopers (PwC) (financial adviser) and Advention Business Partners (commercial and strategy adviser).

Based in Brussels, Belgium, Syntagma invests and operates companies in a broad range of industries with a specific focus on the material, chemical, industrial and business services markets, including manufacturing, distribution, transportation and logistics, equipment rental, and metals services.

-- BERNAMA